Specialty plastics extruder Pexco LLC acquired Insultab Inc., a manufacturer of heat-shrinkable and non-shrink tubing products, to expand its capabilities and reach new markets.
Based in Woburn, Mass., Insultab opened in 1953 to offer hot stamping identification of heat-shrinkable markers for harness assemblies. The company began extruding tubing and expanding its heat-shrinkable tubing products by 1964 and full-scale manufacturing was underway.
Insultab serves a variety of industrial and commercial market segments, including electrical, mechanical, structural, recreational and automotive with products under its Insultab and VinylGuard brands. The business was acquired by Alpha Wire Corp. in the mid-1990s, and began operating as an independent company in 1997.
With 65 years of production experience and more than 1,000 customers worldwide, Insultab is an important addition to the Atlanta-based Pexco organization, according to Pexco CEO Sam Patel.
"Their wealth of expertise in the realm of heat shrinkable tubing capabilities represents a new direction for Pexco, deepening our ability to offer advanced solutions to customers in new markets," Patel said in a Nov. 30 news release announcing the acquisition. "Insultab is known throughout the industry for their outstanding service, superior products, and strong commitment to quality and consistency, making them an excellent fit for our growing business. Pexco will continue to build on Insultab's exceptional reputation with a broader slate of products to better serve their customers."
Insultab has multiple extrusion lines, custom-designed expanders and a variety of downstream services at its 50,000-square-foot facility in Woburn.
Terms of the deal were not disclosed.
The Insultab purchase represents Pexco's second transaction under its new ownership. Earlier this year, Pexco was acquired by the private equity group AEA Investors. In August, Pexco acquired Custom Extrusion Inc.
Pexco officials are ready to make more deals if the right opportunity presents itself.
"We look forward to the continued pursuit of acquisitions that fit our core objectives, enabling us to enhance our suite of capabilities and expand our geographic footprint as the largest custom extruder in North America," Patel said.
Pexco says it has multiple plants in the U.S. and Mexico. The company provides standard and specialty parts and components to manufacturers and end-users for custom applications in the specialty industrial, lighting, traffic safety, fence and filtration industries.