West Des Moines, Iowa-based injection molder Engineered Plastic Components Inc. has acquired the assets of another injection molder, Ernie Green Industries, including plants in Ohio, Florida and Ontario.
"We are very excited about this transaction," EPC President and CEO Reza Kargarzadeh said in an April 3 news release. "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 release said.
The deal, which closed March 31, also includes more than 80 molding machines, ranging in size from 50-2,200 tons.
EPC and EGI did not immediately respond to questions from Plastics News.
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.
EPC was No. 31 in the most recent PN ranking of North American injection molders with $310 million in sales. Ernie Green Industries was No. 34 with an estimated $285 million in sales in the region, although that estimate included EG's former medical molding operations.
EPC, which currently has 16 other locations in North America, expanded capacity at plants in Indiana and Ohio in 2021.
"Both EPC management and EGI management have worked closely for the past few months to make sure this transaction was successfully and seamless to their customers," the release said.