Quadrant Group has acquired Piper Plastics Inc., an injection molder and compounder based in Libertyville, Ill.
No purchase price was disclosed in an April 14 news release announcing the deal. Piper operates a plant in Libertyville; as well as in Chandler, Ariz.; and Rayong, Thailand. Markets served by Piper include medical, semiconductor, aerospace and food packaging. The firm also does computer numerically controlled machining work.
“Piper has an impressive history of overcoming the barriers that limit the use of engineering polymers in demanding applications,” Quadrant President and CEO Glen Steady said in the release. “These capabilities are essential to our mission and will add tremendous value for Quadrant and our stakeholders.”
Piper President and CEO Randy White added that Quadrant's material innovations and global market presence “perfectly complement Piper.”
Quadrant is a global producer of shapes based on high-performance plastic resins. The firm is based in Lenzburg, Switzerland, with North American headquarters in Reading, Pa., and has annual sales of around $750 million. Quadrant employs more than 2,400 at 40 production plants worldwide.
In mid-2013, Quadrant was acquired by Mitsubishi Plastics Inc., a diversified plastics firm based in Tokyo. Mitsubishi had owned a minority stake in Quadrant since 2009.
