Pexco LLC has kept its acquisition streak going by acquiring Performance Elastomers Corp. of Ravenna, Ohio.
PEC makes dense and sponge elastomer products, including both rubber-based and thermoplastic elastomers for recreational vehicle, automotive aftermarket, marine and heavy equipment uses. The firm operates 15 extruders in facilities spanning more than 100,000 square feet, providing secondary and fabrication services as well as in-house tool and die capabilities.
In a Dec. 1 news release, Pexco CEO Sam Patel said that PEC's competencies "provide an excellent fit with Pexco's long-term commitment to strategic growth through the delivery of superior product and process innovation."
He added that through the acquisition, Johns Creek, Ga.-based Pexco looks forward to expanding its silicone and TPE products and broadening its capabilities to include other high performance polymer solutions.
PEC owners Art Bowen and Dave Spears said in the release that joining with Pexco "will only reinforce our deep commitment to quality, service, and the ongoing development of unique product applications across the many market segments we currently serve."
The deal is Pexco's second of 2021 and its ninth overall since 2018. Most recently, the firm in March acquired Altaflo LLC of Sparta, N.J. Altaflo makes high-performance fluoropolymer and fluoroplastic extrusions for a wide variety of industries. Pexco's recent string of acquisitions has been made under the ownership of private equity firm AEA Investors of New York.
And Pexco is looking for more deals.
"We remain committed to the ongoing, strategic expansion of our capabilities, including the pursuit of key acquisitions that fit our core objectives," Patel said.
Pexco was No. 19 in the most recent Plastics News ranking of North American pipe, profile and tubing extruders, with estimated sales of $250 million. The firm has plants in the U.S. and Mexico extruding and injection molding plastic products for industrial, lighting, traffic safety, fence, filtration and electrical insulation markets.