Material handling and logistics firm PSC Group has acquired Thermoplastic Services Inc., a compounder and sheet maker in Dequincy, La.
TSI reprocesses scrap resins into custom compounds that are sold into industrial, commercial and municipal applications, officials with PSC in Pasadena, Texas, said in a news release. TSI also makes a range of plastic sheet and distributes resin.
TSI employs 40 in 150,000 square feet spread over several buildings in Dequincy. Its products mainly are based on high density polyethylene and polypropylene resins, Chris Lendo, PSC sustainability vice president, said in a phone interview with Plastics News.
No purchase price was disclosed in the deal.
Lendo added that PSC is looking to make two to three deals similar to the TSI deal every year for the next two or three years.
The acquisition of TSI "provides the capabilities and scale needed to further establish PSC as the comprehensive sustainability solutions provider across the industry," PSC CEO Joel Dickerson said in the release. PSC provides product handling, site logistics, railcar repair and sustainability services for the petrochemical, refining and marine industries.
TSI President Ashley Wade added that the deal "will provide broader access to PSC's blue chip customer base and rapidly expand our industry-leading sustainability solutions."
PSC is a Blue Level member of the Plastics Industry Association's Operation Clean Sweep program. The firm offers sustainability services to help customers with Clean Sweep compliance and post-production recycling.
PSC previously operated as Petroleum Service Corp. The firm was founded in 1952 and now employs 4,000 at more than 150 refineries, terminals and chemical plants across the U.S.
Investment firm Aurora Capital Partners has owned PSC since 2019. In December, PSC acquired Akrotex Extrusion and Recycling, a compounder and pelletizer in Orange, Texas.