A private equity firm has bought control of plastics and metal processor Group Dekko of Kendallville, Ind.
Centre Partners Management LLC paid an undisclosed amount for Group Dekko, comprising Dekko Technologies Inc. and Pent Technologies Inc., the firms announced July 25. Group Dekko senior management also holds a significant ownership in the acquired businesses.
Group Dekko has several plastics subsidiaries, all headquartered in Kendallville.
PVC Compounders Inc. manufactures flexible and rigid compounds for extrusion and injection molding. Dekko Extrusions makes custom profiles, including multidurometer types. Pent Custom Molding, an injection molder with presses ranging from 75-1,200 tons, supplies parts to the appliance, lighting, office furniture, medical and consumer products markets. Dekko Technologies specializes in wire assemblies and similar systems containing plastics. Wire assemblies were among the first businesses that Dekko predecessor company Lyall Electric Inc. engaged in starting in 1952.
Other Dekko businesses encompass metal forming, metal stamping, powder coating and assembly. Overall, the company employs about 1,500 in 30 facilities in Indiana, Iowa, Alabama, Texas and Mexico.
Dekko used to have a stake in plastics machinery until 1998. It then sold its vertical injection molding press manufacturer, Autojectors Inc., to Cincinnati Milacron Inc.
Group Dekko Chief Executive Officer Steven Hankins told the Fort Wayne, Ind., Journal Gazette that Centre Partners' capital infusion is likely to mean adding hundreds of jobs in the next five to 10 years, and possible acquisitions.
In a news release, he said: ``We look forward to working with [Centre Partners] to drive the continued growth and success of Group Dekko.''
Centre Partners of New York has invested more than $3 billion in equity capital in more than 80 businesses. Its Web site does not list any other plastics companies in its portfolio.