NEWTOWN, PA. (Oct. 12, 4:30 p.m. ET) — In a deal that recalls Donald Graham's roots in the plastic packaging market, private equity firm Graham Partners Inc. has purchased Sheboygan, Wis.-based blow molder Scandia Plastics Inc.
Scandia has one plant, in Sheboygan, and estimated sales of $22 million. The company makes bottles, wide-mouth containers, medical containers and light industrial parts.
According to Plastics News' most recent survey of North American blow molders, the company has an estimated 35 machines and 90 employees.
Scandia CEO Lars Graff said in a news release that the family-owned, business, which is more than 30 years old, felt that finding a partner with plastics packaging expertise was important.
Graham Partners, based in Newtown, near Philadelphia, was founded by Donald Graham, who started both a major blow molder and a blow molding machinery firm: Graham Packaging Co. Inc. and Graham Machinery Corp.
This week Donald Graham received a Lifetime Achievement Award from the Society of Plastics Engineers' Blow Molding Division.
Adam Piatkowski, managing principal at Graham Partners, said the firm anticipates “considerable growth” for Scandia, in part thanks to Graham's industry knowledge.
Graham Partners targets manufacturing or industrial service companies with annual sales of between $30 million and $500 million and profit of between $5 million and $50 million.
The company's plastics packaging-related holdings include stakes in blow molder Western Industries Inc. and Berry Plastics Group Inc., an injection molder, thermoformer and film extruder that went public on the New York Stock Exchange on Oct. 4.