Packaging firm Comar LLC has acquired injection molder and mold maker ProPlas Technologies for an undisclosed price.
In a June 27 news release, officials with Comar owner Graham Partners said that Garden Grove, Calif.-based ProPlas brings engineering expertise and innovative manufacturing technologies.
ProPlas "expands Comar's offering into the attractive diagnostics and medical end markets, lowers new product development costs, and adds injection molding capabilities in a strategic location," Graham Managing Principal Adam Piatkowski said in the release.
ProPlas works out of a 42,000-square-foot location — including two clean rooms — in Garden Grove. The firm operates 26 injection presses ranging in size from 30 to 610 tons and five high-speed CNC machines.
Comar CEO Mike Ruggieri said in the release that Comar "has excellent customer relationships, a very strong employee base, and strategic assets and capabilites that will enable us to better serve existing and potential customers."
ProPlas President Scott Taylor added that Comar "is an ideal partner due to our similar culture, values and focus on customers."
Molding Business Services Inc. of Florence, Mass., represented ProPlas on the deal.
Voorhees, N.J.-based Comar makes packaging and dispensers for the pharmaceutical, diagnostic, health and personal care markets through injection molding and blow molding. ProPlas specializes in complex injection molding, assembly, and mold making.
Comar is North America's 24th largest blow molder, with annual blow molding sales estimated at $110 million, according to the most recent Plastics News ranking. It's the first deal for Comar since 2014, when it merged with Convergence Packaging Holdings LLC, which also was owned by Newtown Square, Pa.-based Graham.
In a separate move, Comar recently opened an innovation center in Buena, N.J. The center includes design and simulation tools and technologies that allow customers to see concepts and touch physical products manufactured on-site, officials said.
Graham has been involved in more than 110 transactions since its 1988 launch. The firm typically invests in innovative industrial companies with earnings before interest, taxes, depreciation and amortization (EBITDA) of between $5 million and $50 million.