Nefab Group is making another acquisition, this time a deal for Plastiform Inc. of Irving, Texas, a maker of thermoformed cushioning products.
"Through this important acquisition, we further strengthen Nefab's market position in the Americas and capability to support our customer in key segments such as datacom and cloud [networking] with thermoformed cushioning trays made from recycled plastics," Nefab Group CEO Per Öhagen said in a statement.
Nefab acquired both Plastiform and its subsidiary, Precision Formed Plastics, a Dallas-based maker of "thermoformed plastic packaging with a specialty in high recycled content and cushion trays as well as other tin-gauge solutions," the company said.
"Nefab's market presence, customer-focus, and strong commitment to saving resources aligns well with our values, and we look forward to continuing our growth journey together in the Americas and globally," Precision Formed Plastics owner Jeff "Rocky Mountain" Jones said in a statement. Jeff Jones is the son Elwyn Jones who founded the company.
With the acquisition of Precision Formed Plastics, the Stockholm, Sweden-based Nefab Group will have over 4,750 employees spread across 38 countries. Annual sales are $960 million (10.3 billion Swedish krona).
Nefab has been in an acquisition mode during recent years, adding companies in both the Americas and Europe. The company purchased Farmington Hills, Mich.-based PolyFlex Products Inc., a maker of trays and customized containers, in 2023. At the time of that deal, Plastics News reported Nefab had about 20 locations in North America.
Plastiform was No. 81 in the most recent Plastics News ranking of thermoformers in North America with annual sales of $15.4 million in 2023.