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Topics Sustainability Mergers & Acquisitions Recycling
Companies & Associations
Consolidated Container Co. is pushing deeper into recycled plastics with the purchase of sister companies Envision Plastics Industries LLC and Ecoplast Corp.
Atlanta-based CCC, a rigid plastic packaging company already with more than 50 container manufacturing sites, adds two locations in Reidsville, N.C., and Chino, Calif., for Envision Plastics, a high density polyethylene recycler.
Ecoplast, which calls itself California’s oldest thermoplastics recycler and customer compounder, is located in Fontana. That company handles a variety of resins including polystyrene, ABS, polypropylene, and low, linear low and high density PE.
Both Ecoplast and Envision Plastics had common ownership, Massoud Rad and Parham Yedidsion, prior to their sale to CCC, which is itself owned by private equity firm Bain Capital.
In purchasing both Ecoplast and Envision Plastics, CCC gains two of the larger plastics recyclers in the country representing nearly 200 million pounds of reprocessed material annually. Envision Plastics is the larger of the companies with 145 million pounds reprocessed, according to a Plastics News ranking. That’s good for No. 14 on the annual list. Ecoplast checks in with 54 million pounds of reprocessed plastics, good for No. 54 on the annual list.
While the companies are now under new ownership, they will operate as a stand-alone business, the new owners said. Scott Booth, who has been chief operating officer at Envision Plastics since 2008, will lead the firms along with the existing management team.
“We believe that recycling and sustainability are megatrends in the economy. We are excited to support the continued growth of Envision and Ecoplast, in building on Massoud and Parham’s legacy,” Bain Capital managing director Seth Meisel said in a statement. “We believe that recycling is both a good financial investment and an important industry for our society.”
CCC, prior to this purchase, already used recycled resins to make some of its new containers.