Ark. molder Camardese destroyed in fire
CLARKSVILLE, ARK. Arkansas molder Camardese Plastic Co. was destroyed in a Jan. 4 fire sparked by a problem starting a forklift, said the Johnson County Sheriff's Department.
One employee was injured and taken to a nearby hospital by private vehicle. Sheriff's department employees did not immediately know the extent of the injuries or the worker's condition.
Clarksville-based Camardese does vacuum forming, injection molding, extrusion and plastic welding, according to its website. It has between 20 and 40 employees.
The sheriff's department said an employee was attempting to start a forklift when it caught on fire shortly before 7 p.m. on Jan. 4. Workers tried to put it out with fire extinguishers, but the flames spread, and the forklift's propane tank exploded, setting the building and its contents on fire.
Transilwrap buys film distributor Interfilm
FRANKLIN PARK, ILL. Transilwrap Co. has acquired flexible film distributor and converter Interfilm Holdings Inc. of Greenville, S.C. Terms of the deal were not disclosed.
Franklin Park-based Transilwrap is a manufacturer, coater, and converter of plastics in the lamination, print, packaging and industrial markets.
According to a Jan. 5 news release, the acquisition supports Transilwrap's growth strategy with a stronger service platform, added converting capabilities and expanded product lines to reach new markets.
This strategic combination of products, services and employees will enable us to offer our customers more diverse solutions, backed by expanded production assets and a highly experienced team of sales, operations and customer-service employees, President and CEO Andy Brewer said in the release.
Donnie Thompson, former president of Interfilm, said the deal gives Interfilm and Brushfoil Interfilm's specialty films and heat-seal tapes division the ability to expand their market reach and offer customers increased converting services and more diverse product lines.
Transilwrap operates nine facilities in the United States and Canada.
Private equity firm buys Phillips Plastics
HUDSON, WIS. Injection molder Phillips Plastics Corp. was acquired Dec. 10 by Kohlberg & Co. LLC, a private equity firm based in Mount Kisco, N.Y.
Hudson-based Phillips was sold by Robert Cervenka, its founder and chairman, who founded the company in 1964 with an initial investment of $52,000.
Today the company has annual sales of more than $250 million and employs 1,300 at 14 U.S. locations. The company ranked at No. 17 on Plastics News' most recent survey of North American injection molders, with sales of $230 million.
In a news release, Phillips CEO Brad Wucherpfennig said that backed by Kohlberg's private equity funds, Phillips will focus on serving its customers on a global basis.
Wucherpfennig will continue to lead the company and the management team will remain in place.
Kohlberg said it plans to maintain Phillips' current operations.
Phillips' key end markets include automotive, medical, defense and consumer products.
Kohlberg & Co. was founded by Jerome Kohlberg Jr., who also co-founded private equity firm Kohlberg Kravis Roberts & Co. with Henry Kravis and George Roberts.
Labels supplier Cenveo acquires Gilbreth
STAMFORD, CONN. Printed-labels supplier Cenveo Inc. of Stamford has acquired Impaxx Inc. of Lakewood, Calif., the parent company of shrink-sleeve manufacturer Gilbreth Packaging Systems Inc. Terms of the deal were not disclosed.
Based in Croydon, Pa., Gilbreth prints and converts full-body shrink sleeves, tamper-evident neck bands, and medical and electronic tubing.
Chicago-based Mesirow Financial Holdings Inc. advised Impaxx on the deal.
Gilbreth delivers Cenveo a highly complementary niche product line that will create immediate cross-selling opportunities and drive growth, Louis Mitchell, managing director of Mesirow Financial, said in a Jan. 5 news release.