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August 02, 2021 08:07 AM

National Composites gets into 'extremely large' production with acquisition

Catherine Kavanaugh
Staff Writer
Plastics News Staff
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    Able Manufacturing & Assembly LLC
    Able Manufacturing & Assembly LLC has been producing large composite parts for decades, including sleeper systems for semitrucks and cabs for large equipment.

    Troy, Mich.-based National Composites LLC, a manufacturer of fiber-reinforced plastic and thermoformed products, has acquired Able Manufacturing & Assembly LLC in Joplin, Mo., to expand its molding capabilities, market reach and geographic distribution.

    The deal marks the fifth transaction in two years for National Composites, a family- and employee-owned company that has been following a strategy to grow through acquisitions that bring new capabilities and talent.

    The addition of privately held Able gives National Composites the ability to mold "extremely large" components, increases its presence in the transportation market and allows it to enter the wind energy market, according to National Composites CEO Adam Fenton.

    "Able is molding parts up to 40 feet long. That's a pretty rare capability for composites," Fenton said in a phone interview.

    Founded in 1954, Able has a strong presence in the wind energy market and transportation market for trucks, specialty vehicles, rail and construction and agricultural vehicles and equipment.

    The acquired company developed the Able Body Sleeper Cab in the 1970s, giving truck drivers the ability to rest in their own vehicles. Business boomed and Able expanded into vehicle interiors, dashboards, door panels, consoles, storage lockers and tool bins.

    National Composites will retain Able's 200 employees, who work out of a 320,000-square-foot facility. The acquisition essentially doubles National Composite's manufacturing footprint to 500,000 square feet, its workforce to 420 and its sales, Fenton said.

    "We serve the transportation market right now but not to the scale that Able does," Fenton said. "A good portion of the subway systems in the U.S. have Able components. Think of the front face where windshields and lights go. That housing is fiberglass and the body panels that line the interior of the passenger and driver cabs are composites."

     

    Able Manufacturing & Assembly LLC
    Able Manufacturing & Assembly LLC brings with it a long history in large composite parts. It has a range of processes, including fiberglass composites.
    Breezing into a new market

    Able also got into the wind energy market, producing nose cones and other internal components as opposed to the long wind blades. This also attracted National Composites.

    "There will be a lot of federal funds pushed toward wind energy, and that's a market we haven't touched at all through National Composites. We're really excited about this diversification," Fenton said.

    The Able acquisition also gives National Composites full metal cab fabrication, metal component fabrication and Class A paint capabilities. Able offers components that are fully primed and painted or produced with a molded-in color gel coat and buffed so the parts are ready to install at OEM facilities.

    "Able Manufacturing & Assembly is pretty impressive," Fenton said. "This acquisition lets us become that one-stop shop and have everything under one umbrella."

    National Composites is an ideal partner, and the Able staff is excited to join the team, according to Able Manufacturing President and CEO Craig Marton.

    "National Composites has a wealth of experience in the composites industry and a well-defined strategy for helping companies like Able maximize our full potential," Marton said in a press release.

    Purchasing power increased

    National Composites now has five production plants. In addition to Able in Joplin, there's Molded Plastic Industries in Holt, Mich.; Great Lakes Composites and Excel Pattern and Tool, which are both in Owosso, Mich.; and Sunrise Fiberglass in Wyoming, Minn.

    The acquiring company's sales have been brisk to the marine and recreation, electric and specialty vehicles, hospitality and medical markets.

    "The marine market demand has gone through the roof. It's unimaginably high," Fenton said. "I don't think we have a single customer down on orders. Everybody is up compared to historical data, which is fantastic but comes with a number of challenges in a market like today where labor is difficult and materials are in many cases on allocation."

    With Able in the company fold, National Composites should have an easier time obtaining raw materials.

    "This is a landmark change that will put National Composites on the radar if we're not already," Fenton said. "We're a decent-size player when it comes to getting raw materials in the composite space, but this acquisition will take us to the next level. This will give us purchasing power."

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