Thermoformer Lindar Corp. has expanded again, buying a nearby operation focused on heavy-gauge jobs.
Lindar acquired Plastics Plus Inc. on Aug. 27 for undisclosed terms. Plastics Plus of Brainerd, Minn., is about 10 miles away from Lindar in Baxter, Minn.
Lindar President and owner Tom Haglin said he plans to move Plastics Plus' operations into his firm's Baxter facility by Aug. 1, 2008. He is prepared to expand the Baxter building if it won't accommodate the Plastics Plus equipment.
The acquisition is Lindar's third in less than a year. During the summer it merged with a related company, Intec Alliance LLC, to combine the firms' resources.
Late last year, Lindar bought the thin-gauge, roll-fed forming operation of Plastics Plus.
Haglin said Plastics Plus' former owner, Jim Thole, was not ready last year to part with the heavy-gauge operation. Since then, Thole has decided to retire, which paved the way for Lindar to buy the heavy-gauge business.
The deal significantly boosts Lindar's heavy-gauge work. All the Plastics Plus customers are new ones for Lindar, Haglin said in a telephone interview.
The acquisition gives Lindar six heavy-gauge thermoforming lines to supplement its original four heavy-gauge lines in Baxter. Lindar also operates eight thin-gauge thermoforming lines in Baxter.
Plastics Plus had a diverse customer base, ranging from medical to construction to agricultural markets.
The company logged sales of $7 million last year, vs. Lindar's $10.2 million in revenue. Plastics Plus was founded in 1979, while Lindar dates to 1993.