Plastics Group added a third blow molding operation to its stable with the Aug. 2 acquisition of Fremont Plastic Products Inc. of Fremont, Ohio.
Fremont Plastic expands Plastics Group's geographic base, has complementary customers and brings new blow molding technologies to the group, said Larry Gies, a partner in Madison Capital Partners, owner of Plastics Group. He did not disclose terms of the deal.
Fremont Plastic has annual sales of about $20 million in automotive, furniture, appliance, consumer product, recreation and agricultural chemical markets, according to the firm's former president and part owner Paul Rothschild. It runs 15 blow molding machines, the largest with a twin 20-pound head. Rothschild estimated employment at 220.
Gies said in an interview from Madison Capital's Chicago headquarters that Plastics Group recently picked up a few new contracts, but he would not disclose details. Having three blow molding sites and rotational molding capabilities gives Plastics Group flexibility and geographic reach to meet orders.
Gies estimated the Fremont Plastic purchase will boost Plastics Group's sales to more than $70 million a year.
The group's most recent previous acquisition was blow molder and rotational molder Wedco Moulded Products of Boucherville, Quebec, which it bought from Union Carbide Corp. in February. Borse Industries LP in Willowbrook, Ill., is its other blow molding operation and Pawnee Rotational Molding Co. of Maple Plain, Minn., does rotomolding.