Polyurethane product manufacturer Mearthane Products Corp. kicked off 2023 with its seventh acquisition in five years, while also adding a private equity partner.
MPC announced the acquisition of Precision Elastomers Inc., an Ipswich, Mass.-based manufacturer of custom thermoset polyurethane and silicone components Jan. 3. The purchase of PEI follows the company's strategic acquisitions of Bay City, Mich.-based Snyder Plastics Inc. in May 2022 and Polyurethane Molding Industries of Woonsocket, R.I., in 2020.
From there, Cranston, R.I.-based MPC established a strategic partnership with St. Louis-based private equity firm Compass Group Equity Partners in mid-January. MPC and Compass Group entered into the partnership to move organic and inorganic initiatives forward, including enhanced sales operations and further expansion of product and service offerings via strategic acquisitions.