In a compounding deal, Niche Polymer has acquired Westchester Plastics and Fluoropolymer Products, two businesses based in Nesquehoning, Pa.
An online report from the Lehighton (Pa.) Times News said the sale of the businesses was finalized on Sept. 7 by Ametek Inc., the industrial conglomerate that owned both firms. Sunny Naik, operations vice president for Ravenswood, W. Va.-based Niche, told the publication that his firm first approached Ametek in early 2020 to express interest in an Ohio plant that later closed.
The two firms continued to work together and then reached a deal for the Nesquehoning location.
"We were approached as an off-market opportunity because we have an existing relationship and they have known about our presence in the plastic industry," Naik said.
Niche is part of a group of companies owned by the Naik family that operate in plastics recycling and compounding.
Fluoropolymer Products specializes in heat exchangers. Westchester Plastics, which is also known as Ametek Westchester, is a toll compounder of engineering resins, alloys, blends, reactive modifiers and other thermoplastic materials.
The business was founded in Westchester County, N.Y., in 1949 and was acquired by Berwyn, Pa.-based Ametek in 1968. The Westchester location closed in 1975 when the Nesquehoning site opened.