Pedestrian and traffic safety products company Innoplast Holdings is acquiring Shur-Tite Products LLC to broaden the company's product line.
Innoplast, based in Garfield Heights, Ohio, and owned by private equity firm ScaleCo Capital, said Gainesville, Texas-based Shur-Tite will move the company beyond the manufacture of products used in parking lots.
"This partnership diversifies our product offerings from parking lot assets to the DOT [department of transportation] space, increasingly growing our focus and expanding our reach in the conspicuity and traffic safety sectors," Innoplast CEO Gary Bowling said in a statement.
Shur-Tite makes highway, pedestrian and traffic safety products, Innoplast said.
"The newly combined business will deliver an enhanced and diverse range of products leveraging combined expertise and resources to accelerate innovation and expansion," ScaleCo founder and Managing Partner Brendan Anderson said in a statement.
The Innoplast business, which already includes subsidiaries Thermoprene and American Sign Products, grows to 80 employees through the latest deal. Innoplast was acquired by the private equity firm in 2021.
Shur-Tite will remain in Gainesville under its current name. The company's product lines include "delineators, channelizers, pedestrian and bike safety, object markers, traffic separator curbs and mailbox support assemblies," Innoplast said.
Innoplast's portfolio includes plastic bollard covers as well as specialty vinyl, adhesives, and reflective tapes used by signage, vehicle and safety manufacturers, the company said. Bollards are vertical posts anchored into the ground that prevent traffic from entering areas.
"We believe both Innoplast's and ScaleCo's culture, based on Midwest values, aligns perfectly with our Texas style of doing business with service and integrity. Under Innoplast's stewardship, Shur-Tite Products is poised for accelerated growth," Shur-Tite President Darrell Heald said in a statement.