Buffalo, N.Y.-based Caplugs, a division of Protective Industries Inc., acquired Polykap srl to expand its manufacturing and service options for European customers.
Based in the small republic of San Marino in central Italy, Polykap has five production lines that supply more than 9,000 different standard caps, plugs and other protective components for applications in industrial manufacturing, heavy equipment, automotive, hydraulic, beverage and consumer products.
Polykap has been in business more than 25 years and has some 18 million units warehoused.
Founded in 1948, Caplugs produces 5.5 billion units annually, including caps, plugs, tubing, containers, netting, edge liners, fasteners and masking products for a variety of customers. Manufacturing capabilities include injection molding, vinyl-dip molding, vinyl coating, extrusion, compression molding and die-cutting.
With the acquisition, Caplugs now has 12 manufacturing and distribution plants, including European facilities in Belgium and the Netherlands that operate as Caplugs Europe B.V.
The acquisition gives Caplugs customers in Western Europe, particularly Italy, Germany, France and Belgium, streamlined access to Polykap's full portfolio, faster delivery and local service and support for orders from the Caplugs product lineup.
Polykap customers also can more easily access Caplugs' custom molding capabilities, including more than 40,000 parts in its product catalog.
Financial terms of the deal were not disclosed.
The Polykap team will remain in place during the transition period, according to Caplugs President and CEO David Williams.
"Current Polykap customers will continue to work with the same people and receive the same parts and service they do today, and they will also gain access to Caplugs' extensive catalog of protective products in the coming months, giving them more options than ever before for product protection, masking and finishing," Williams said in a news release.
Davide Luppi, general manager of Polykap, added: "As the hub for Southern Europe, we are excited to bring more products and faster delivery options to all of our customers. Caplugs is a leader in product protection, and we look forward to offering new protective solutions and expanded custom manufacturing capabilities to our customers."
Caplugs is owned by Philadelphia-based investment firm Berwind Corp., which bought it with Protective Industries in 2015.
In November 2021, Protective Industries acquired Grand Rapids, Mich.-based Medbio LLC, which specializes in clean room injection molding processes for medical device, life science and biotechnology components.