Plastic Components Inc., a Germantown, Wis.-based custom injection molder, has acquired Syracuse Plastics of North Carolina Inc.
Terms of the deal, announced March 5, were not disclosed.
"SPNC has built an outstanding reputation for service, responsiveness and quality as a partner in providing engineered solutions to its customer base," PCI CEO Derrill Rice said in a statement. "SPNC significantly enhances the solution portfolio PCI can offer its customer base in terms of press tonnage, value-added services and short lot processing capabilities."
SPNC is a full-service injection molder and contract manufacturer of precision components and assemblies for appliances, consumer products, electronics, industrial, water systems, telecommunications and other markets.
The company is located in Cary, N.C., and operates out of a 55,000-square-foot facility with 37,000 square feet for manufacturing, 14,000 square feet of warehouse space and 4,000 square feet for offices. SPNC's injection molding presses range from 35-1,100 tons, according to its website.
MBS Advisors of Florence, Mass., served as the sell-side adviser for the transaction.
PCI is owned by MPE Partners, a private equity firm with offices in Boston and Cleveland. The company runs 67 injection molding machines with clamping forces ranging from 35-500 tons at its two Germantown facilities — 47 presses at its main factory on Morse Drive and 20 fully automated work cells at the Bunsen Drive lights-out plant.
PCI is listed at No. 169 on Plastics News' annual ranking of North American injection molders. The company generated sales of $35 million in 2017. It has been named in PN's Best Places to Work for 2018. It also named Processor of the Year in 2008.
"I am very excited about this next chapter in the SPNC story," Tom Falcone, former owner and CEO of SPNC, said in a statement.
"MPE brings capital, and PCI brings capabilities and resources to an already great plastic injection molding foundation," Falcone said. "Additionally, SPNC and PCI have a unique cultural alignment in terms of our passion for the customer, our commitment to service, quality and innovation, and our recognition that our employees are our No. 1 asset that differentiates both of us in the marketplace."
