Polymer Technology changes hands
MILWAUKEE — Polymer Technology Corp. has been acquired by two private equity firms, Capital for Business of St. Louis and First Capital Partners of Omaha.
Bridgewood Advisors Inc., a Milwaukee-based mergers and acquisitions advisory firm, completed the sale. Financial terms were not disclosed.
The Menomonie, Wis.-based molder provides Class 100,000 clean room molding, insert molding, overmolding and low-pressure molding as well as design, tooling and secondary services.
Polymer Technology produces components for the medical, automotive and electronics industries at its plant in Menomonie, where it employs about 50 at its 30,000-square-foot facility.
The deal involved Polymer Technology management and private equity buyout firm Magna Capital LLC of Chicago.
A company representative declined to provide details.
SPI appoints industry affairs director
WASHINGTON — The Society of the Plastics Industry Inc. has hired Jacqueline Dalzell, the former publisher of Plastics Technology magazine, for a new position: director of industry affairs.
SPI President and CEO Bill Carteaux will formally announce the move at NPE2012 in Orlando, Fla. Dalzell will work directly with him on the Washington-based trade association's industry outreach initiatives.
Dalzell has worked for PT's parent company, Cincinnati-based Gardner Publications Inc. since 2004, serving as publisher from June 2009 to January 2012. Her career in plastics publishing also includes a nine-year stint at Canon Communications LLC, serving as associate publisher of Injection Molding Magazine from June 2000 to November 2003, plus four years at Advanstar Communications.
Mocon buys MAP test equipment maker
MINNEAPOLIS — Mocon Inc., which makes testing instruments and offers consulting in packaging, pharmaceuticals and other industries, has acquired competitor PBI-Dansensor A/S, a maker of testing equipment for modified atmosphere packaging.
Mocon acquired the privately held Ringsted, Denmark-based firm for $20 million in a deal expected to close April 2.
Dansensor produces gas mixers, analyzers and leak-detection equipment for businesses that use MAP in food, beverage and pharmaceutical markets.
“Historically, they've been very strong outside the U.S. and our market's been within the U.S.,” Mocon's chief financial officer and vice president, Darrell Lee, said by phone. “Now we have a foothold throughout the entire world in the package testing area.”
Dansensor recorded 2011 sales of about $19.3 million and employs 96 worldwide. Lee said there are currently no plans to close any Dansensor locations.
Mocon of Minneapolis, posted sales of $37.3 million for 2011, an 18 percent increase over 2010. The company employs about 150 and has subsidiaries in Lyons, Colo.; Round Rock, Texas; Neuwied, Germany; and Shanghai.
Carpinteria, Calif., passes double bag ban
CARPINTERIA, CALIF. — The number of bans on single-use plastic bags in California continues at a rapidly accelerating pace.
The city of Carpinteria enacted the state's first — and the nation's second — bag ban that applies to both single-use plastic bags and paper bags. Austin, Texas, also has a double bag ban, approved earlier this month.
The Carpinteria plastic bag ban, set to go into effect July 11 for large retailers, was approved March 12. However, it faces a legal challenge before it becomes effective. The Save the Plastic Bag Coalition said it will file a lawsuit because the ban does not include an exemption for restaurants — which violates the California Retail Code and poses a safety hazard, the group said.
Some 20 miles east, the city of Ojai is poised to become the first city in Ventura County with a single-use plastic bag ban after a March 27 vote.
Retailers with less than $5 million in sales will be exempt from the paper-bag portion of the Carpinteria ban. They also will not have to comply with the plastic-bag ban until April 11, 2013.
The two additional bans would bring the number of California communities with bans to 44.