Thermoplastic valve and pipe manufacturer Asahi/America, Inc. has acquired Performance Plastics Inc., to expand fabrication capabilities and capacity along with engineered plastic products and services.
The Lawrence, Mass.-based Asahi/America has had "a close relationship" with Gramercy, La.-based Performance Plastics during the last 10 years, according to Asahi/America President and CEO Daniel S. Anderson.
"We recognize that our customers need more from their materials supplier. They also require value-added services in today's fast-paced industrial and commercial markets. This strategic acquisition will enable Asahi/America to be a stronger partner to our distribution network, as well as the construction trades," Anderson said in a news release.
Established in 1973, Asahi/America has more than 600 distributors in the U.S. and Latin America. The company manufactures certified fluid-handling products for industrial, commercial and environmental uses at a 200,000-square-foot facility that also includes warehousing. Performance Plastics has a 30,000-square-foot facility for producing fabricated fittings, double-containment piping systems and other complex thermoplastic products.
Founded in 2009 by Jason Roussel, who will continue to operate the acquired facility, Performance Plastics brings an experienced staff, fully equipped fabrication workshop, project planning services, and training programs to Asahi/America.
"We're very excited to become part of the Asahi/America family. This acquisition will provide synergy and excellent growth opportunity for our employees, as well as allowing our customers to continue to receive the service level and expertise they have come to expect from Performance Plastics," Roussel, president of Performance Plastics, said in the news release.
The deal was inked Oct. 1 and on Oct. 2 the Louisiana facility began operating as Asahi/America Inc. — PPI division.