Pexco LLC is continuing to expand, this time through the acquisition of a North St. Paul, Minn., injection molder.
Scientific Plastics Corp. becomes the latest to join Pexco after deal just last month for Precision Extrusion Inc. of Glens Falls, N.Y.
Val Schmitz, one of the owners of Scientific Plastics, spoke briefly about the company during a phone interview.
“We're kind of a custom injection molder,” Schmitz said, serving “mostly industrial markets.
“We do a little bit of medical,” he said.
When asked about the industrial business, he mentioned automotive as one of the markets for the company that has about 12 employees. The company's website also mentions it serves the health care market.
Pexco, based in Alpharetta, Ga., has been owned by Investment Partners LLC since 2012 and has been growing since then. The company previously acquired Spectrum Plastics Inc. of Minneapolis in 2013. Scientific Plastics and Spectrum Plastics are located about 23 miles apart.
And Spectrum, on its website, talks about growth: “First and foremost, note the fact that we're building. We're not maintaining, we're not preserving, we are growing. It's a challenging yet exciting time to be a part of Spectrum Plastics Group,” the website states.
Schmitz referred questions to Scientific Plastics President Jeff Thiel, who could not be reached for comment Jan. 7. An official from Pexco also did not immediately return a call seeking comment.
Pexco, in announcing the deal, said Scientific Plastics is a “manufacturer of injection molded plastics with extensive experience processing demanding engineering materials such as PEEK, Ultem, polysulfone, polycarbonate, and many others.”
Pexco is primarily known for profile extrusion, not injection molding. The company ranks No. 19 on Plastics News' most recent survey of North American pipe, profile and tubing extruders, with estimated sales of $235 million.