"We are very excited about this transaction," EPC President and CEO Reza Kargarzadeh said. "It will increase our footprint and ability to service all of our customers better." The plants will add $86 million to EPC's annual sales and add 500 employees.
The deal also includes more than 80 molding machines, ranging in size from 50-2,200 tons. The acquired Ernie Green plants are located in Circleville, Ohio; Ormond Beach, Fla.; and Stratford, Ontario. Those were the company's remaining operations. Last year, EGI closed its New Madison, Ohio, plant and also sold its medical device and diagnostics division, EG Medical, to Dunes Point Capital LP. That business is now called Atalys.
EGI founder Ernie Green played in the National Football League for seven years in the 1960s as a running back with the Cleveland Browns. Green played on Cleveland's 1964 championship team — the franchise's most recent title — and was named to the Pro Bowl in 1966 and 1967.
Clayens Group acquired injection molder Parkway Products LLC in a move that gives the new owner a larger platform to continue growth. The deal includes eight locations in the U.S. and one in Mexico serving industrial, infrastructure, agriculture, aerospace, defense, transportation and health care markets.
Greenville, S.C.-based Parkway makes precision plastic and metal components through what the company describes as five niche process technologies: thermoplastic molding, thermoset molding, machining, high-performance polymer molding and magnesium thixomolding.
"I think it's all about the customers and our people. And I think it's good for both. I think that's the primary message. Our combined capabilities are better given the ability for us to now share and leverage advanced technologies. And we'll have more geographic reach to serve people where they want to be served," Parkway CEO Andrew Green said in an April 12 interview with PN.
Private equity firm One Equity Partners owns Clayens Group and is buying Parkway Products from fellow private equity firm Heartwood Partners. Terms of the deal were not disclosed.
Nashotah, Wis.-based automotive injection molder Techniplas LLC made its second acquisition since exiting Chapter 11 bankruptcy in mid-2020. This time, the firm acquired Proper Group's Anderson, S.C., manufacturing operations. The 86,000-square-foot plant, which molds and assembles automotive exterior, consumer and industrial components, employs 120.
Warren, Mich.-based Proper cited liquidity issues when it announced in late 2022 that it would close its headquarters plant. A few weeks later, it sold its auto lighting operation in Pulaski, Tenn., to Luxit Group, a unit of Florida-based investment firm New Water Capital LP.
Private equity firm Atlas Holdings LLC bought Auburn Hills, Mich.-based automotive supplier U.S. Farathane LLC from the Gores Group investment firm. U.S. Farathane is one of North America's largest automotive injection molders and was the 2005 PN Processor of the Year.
Atlas plans to partner with USF CEO Andy Greenlee, who will remain CEO and assume the title of chairman of the board. Greenlee said Atlas' automotive sector expertise will help USF grow. Atlas owns 26 companies, including three in the auto sector: automotive glass supplier Carlex, battery maker Edison Group Cos., and headliner and interior trim maker Motus.
Market veteran Christopher Miedza acquired injection molder Innovations in Plastic Inc. and renamed the business Pharoplast LLC. Miedza has 30 years of industry experience.
Innovations of East Cleveland, Ohio, was founded in 1972 by Charles Hazle, who sold the business to Miedza in August 2022 and continues to work with the firm as a consultant. Hazle started the business with one injection molding machine, which he had bought at an auction, in a rented building.
The business primarily does contract manufacturing for OEMs. The firm also offers assembly, sonic welding, pad printing, hot stamping and machining services. Pharoplast occupies 25,000 square feet of a 36,000-square-foot building.
Miedza — a parts and tooling design engineer — said Pharoplast had been focused on short-run production for local customers, but a lot of that work had moved to China. Now, some of it is returning, with the firm already receiving some reshoring work, he said.
Pallet injection molder Greystone Logistics Inc. diversified into extrusion with its acquisition of the assets of Paradigm Plastic Pallets Inc.
"Customers kept asking for large pallets," Greystone CEO and Chairman Warren Kruger said. He had received requests for products as large as 96 by 48 inches but didn't have the ability to make them with injection molding.
Greystone is based in Tulsa, Okla., with a plant in Bettendorf, Iowa, that has 20 presses with clamping forces of 300-3,300 tons. Paradigm operated out of a 50,000-square-foot facility in Jasper, Ind., where it extruded hollow profiles for its pallets. Among the assets Greystone purchased are two extrusion lines, robotics and associated equipment that will remain in the Jasper plant.
Greystone will continue using 100 percent recycled high density polyethylene for almost all of its pallets, but it does fill rare requests for products made with polypropylene or recycled/virgin mixes. Its customers include companies in automotive, pharmaceutical, food and beverage, and consumer markets.
AptarGroup Inc. added manufacturing capacity in the Middle East with the purchase of an existing closure maker. The company acquired majority control of Gulf Closures of Sitra, Bahrain, a facility with about 60 workers supplying products to both local and global brands in the Persian Gulf.
Aptar said the company started focusing on the Middle East four years ago with the opening of a sales office in Dubai. Gulf Closures provides products to companies in the Middle East and Africa. Its products include closures, capping machines, bottle changing parts and services. The firm can make 2 billion caps per year, and it is a supplier to Coca-Cola Co. and PepsiCo Inc., according to the company's website.
In the 3D printing market, four firms merged to create a new one called Uptive. The new firm will offer a wide variety of 3D manufacturing technologies aimed at "creating a disruptive moment in a field that prioritizes volume over customer service."
Made up of Re3DTech, GoProto, Stanfordville Machine & Manufacturing and Phoenix Proto Technologies, Uptive provides production-grade parts to the medical, electronics, consumer, automotive, aerospace and defense, automation and industrial markets. The new company's capabilities include additive manufacturing, rapid prototyping, CNC machining, sheet metal fabrication, injection molding, tooling, and post-processing and finishing.
The creation of Uptive reflects its expanded offerings and aligns with growth strategy plans, according to Uptive CEO Tom Kerscher. "As the digital manufacturing landscape shifts to a more automated … and virtual marketplace, our biggest strength remains our ability to offer human-driven quick response expertise, unmatched customer service and high-quality components throughout every step of the manufacturing process," he said.
Offerings under the Uptive umbrella from Re3DTech are additive manufacturing capabilities, including HP multijet fusion; from GoProto are plastic and metal part rapid prototyping, additive manufacturing, cast urethane, production parts and part finishing; from Stanfordville Machine & Manufacturing are CNC machining of aluminum, steel, stainless steel, brass, copper and plastic parts; and from Phoenix Proto Technologies are on-demand manufacturing of prototypes and production quantity parts with a specialty in aluminum tooling and injection molding services.
Packaging giant Berry Global Group Inc. surprised some market watchers by acquiring Canadian injection molder Pro-Western Plastics Ltd. for $88 million. That firm now will be operated within the Consumer Packaging North America Segment of Evansville, Ind.-based Berry.
Pro-Western has about 180 workers and brings "a highly complementary portfolio of high density polyethylene bulk and retail containers to Berry's existing container offerings," Berry officials said.
The move was somewhat surprising since Berry in May announced plans to close at least 15 global production sites to cut costs and improve efficiencies. The firm in October 2022 had cut 100 indirect labor jobs.