Injection molder Fleck Co. Inc. of Auburn, Wash., and strategic investor Alistar Capital Group of Bellevue, Wash., have merged with an eye on acquiring more plastics processors, the companies announced Nov. 14.
Alistar has committed ``to accelerate our growth through acquisitions, and perhaps start-ups in strategic locations, of complementary companies in manufacturing,'' John E. Fleck, president and chief executive officer of Fleck Co., said in a Nov. 17 telephone interview. ``Their resources and our capabilities complement each other.''
The growth is ``customer-driven but not customer-dictated,'' Fleck said. The molder will continue the existing region-oriented, 65,000-square-foot plant in Auburn but look elsewhere for expansion ``in areas with business opportunities.''
Fleck employs 170 and operates 30 injection molding machines with clamping forces of 40-250 tons. The company specializes in small, ultraprecise plastic components, principally for medical, computer and telecommunications industries. The firm received a 1996 Washington Technology Fast 50 award for sales growth over five years.
Fleck indicated 1997 sales represent a ``significant increase'' on 1996, but he declined to disclose the numbers.
Peter J. Fleck, now 82, founded the molding company in 1967 and retired in 1985. Sons John and Duane retain equity in the merged corporation. Duane Fleck is executive vice president and chief operating officer.
``We will be working closely with management to develop an aggressive acquisition program,'' Bernard Greer, Alistar chairman and owner, said in a statement.
Scott Eshelman, one of five Alistar principals, said the firm has had corporate transactions ranging from $5 million-$110 million and now owns a Mexico-based Coca-Cola bottling plant in addition to Fleck Co.