The Protexic Brands unit of Tegrant Corp. has purchased Createc Corp., a manufacturer of highly engineered, custom molded foam products.
Terms were not disclosed. The company serves the protective packaging, automotive components and specialty products markets.
Createc, based in Indianapolis, has four manufacturing facilities in the U.S. and Mexico.
They're an established company with a terrific brand. They have top-notch facilities in good locations, so it greatly enhances the footprint of [both] organizations, Scott Novak, Protexic vice president of marketing and business development, said in a Jan. 6 telephone interview.
Like Createc, Protexic Brands also makes engineered foam products for the transportation and protective packaging industries. The unit is based in Arlington Heights, Ill., and it has more than 15 facilities in North America, including regional technical centers, environmental testing centers, manufacturing and warehousing facilities. It employs about 300.
Our offerings are very complementary. With the addition of the combined footprint, it allows us to serve customers better by being more closely located to their facilities, Novak said.
Protexic manufacturing plants are located in Arlington Heights; Dallas; Colorado Springs; Eau Claire, Burlington and Pardeeville, Wis.; Owosso, Mich.; New Brighton, Pa.; Butner, N.C.; Kennesaw and Conyers, Ga.; Mount Pleasant, Tenn.; Tupelo, Miss.; and Guadalajara and Ciudad Juarez, Mexico.
Ron Leach, president and CEO of De Kalb, Ill.-based Tegrant, said Createc has a good reputation, a talented workforce and production facilities in strategic locations.
In a Jan. 7 telephone interview, Greg Sipla, Tegrant's executive vice president, said the acquisition was part of a growth pattern that began in 2007, when the present company was formed under the ownership of private equity firm Metalmark Capital LLC of New York.
That's the mode that we're shifting into after the last two years of recession growth, both organic and acquisitive, he said.
Tegrant has about 1,900 employees and 28 manufacturing facilities in the U.S., Mexico and Ireland.
Privately owned Tegrant does not disclose sales.