Total Plastics Inc. of Kalamazoo, Mich., is boosting its presence in the Eastern U.S. with the acquisition of Northeast Plastic Supply of Philadelphia with a production facility and a retail business specializing in acrylic material.
Founded in 1993, NEP is a stocking distributor of polymer shapes, a custom fabricator of point-of-purchase and display products, and a machining services provider.
“Their business model aligns very well with ours,” TPI President Tom Garrett said in a news release. “We identified NEP as an excellent opportunity to both grow our business and strengthen our presence in this region.”
NEP will continue to operate out of its two Philadelphia locations and both the company and its retail outlet, Everything Plastic in the Philadelphia's Northern Liberty neighborhood, will keep their names. Employees also will keep their jobs.
“We're not only broadening our company portfolio through the acquisition of NEP, we're also welcoming their team of highly skilled and outstanding employee,” Garrett said. “NEP's team has driven their continual success. We couldn't be happier about having them join the TPI family.”
Founded in 1978, TPI says it is one of the country's largest providers of distributed plastics with 15 stocking locations and three subsidiaries. The company first opened a branch in the Philadelphia-Camden-Trenton markets in 2003 but Garrett said the NEP acquisition reaffirms their commitment.
“Our goal has always been how to grow our presence in this market and we've continually sought better avenues into it,” he added.