In a deal involving two custom injection molders, Illinois Valley Plastics has acquired Pro Plas Inc. for an undisclosed price.
“Both companies complement each other very well, both strategically and culturally,” IVP President Daryl Lindemann said in an Oct. 9 news release. “This acquisition aligns with our long-term strategy of customer, market and geographic diversification within the plastics industry.”
Pro Plas operates a dozen injection presses at a 30,000-square-foot plant in St. Louis, where it employs 34 full-time and 20 part-time workers.
The firm's presses range in size from 55-500 tons of clamping force.
Pro Plas also offers sonic welding, heat staking and solvent welding assembly, as well as subassembly and packaging. The firm said it has complete tooling, design and model-making sources for new product development, as well as an in-house toolroom. Its major customers are in the commercial refrigeration, commercial drink dispensing, and medical/ pharmaceutical sectors.
Washington, Ill.-based IVP is buying Pro Plas from company founder John Murphy, who will remain with the firm in a consulting role. Pro Plas has annual sales of about $5 million, about half of IVP's annual sales total, which was almost $10 million in 2011.