Deal combines Ohio-based molders Thogus, Proto Plastics

Thogus Products Co., which does medium- to high-volume injection molding and contract manufacturing, has acquired Proto Plastics Inc., a low-volume molder specializing in close-tolerance parts and assemblies.

Both companies are in Ohio: Thogus is in Avon Lake, near Cleveland, and Proto Plastics in Tipp City, near Dayton. Terms were not disclosed.

Proto Plastics fills a strategic niche that Thogus has been missing, according to Thogus CEO Matt Hlavin.

"PPI's a low-volume molder and we're medium- to high-volume. We used to refer out several million dollars in low-volume business, and then we found Proto and that's what they do. So we're going to capture that business," Hlavin said.

This is the first time Thogus has purchased another injection molder. Hlavin said Proto Plastics will continue to operate under its own name in Tipp City, where the firm employs 31 and runs 17 injection molding machines in a 65,000-square-foot plant. Proto Plastics has more than 80 customers in a wide range of industries, including automotive, aerospace, medical, electronics, telecommunications, industrial and business equipment, government/defense, safety, construction and instrumentation and control.

Companywide, Thogus now has more than 200,000 square feet of manufacturing and warehouse space, 53 injection presses and 12 3D printing machines across three facilities.

Proto Plastics was founded in 1969 by Tom Gagnon. He and his wife, Sue Gagnon, are retiring. Hlavin said three other owners will stay with Proto Plastics: the Gagnons' daughter, Theresa Dewing, son David Gagnon, and Vince Monnin, the vice president of engineering and production.

MBS Advisors of Florence, Mass., represented Proto Plastics in the transaction. MBS met Tom Gagnon several years ago at a conference of the Manufacturers Association for Plastics Processors, and earlier this year helped Proto Plastics link up with Thogus for talks that led to the deal.