Canadian plastics processor Plastifab Industries Inc. has bought New Hampshire injection molding company MoldPro Inc., its second molding acquisition in the United States this year.
The Dec. 16 acquisition was announced by Plastifab's private equity owner, Regimen Equity Partners, which said that Swanzey, N.H.-based MoldPro will expand Plastifab's capabilities in molding markets.
Terms were not disclosed.
Saint-Laurent, Quebec-based Plastifab historically focused on extrusion markets but acquired its first injection molding firm in March, when it bought Marchel Industries Inc. in South Carolina, to diversify its operations.
The MoldPro purchase continues that push.
"This expansion reflects our commitment to meeting and exceeding the needs of our growing North American client base," said Plastifab CEO Ryan Antoniadis, in a statement.
MoldPro's website said the company has more than 20 molding machines ranging from 40 to 300 tons of clamping force in its 27,000-square-foot facility.
It has business in both custom injection molding and mold making, as well as manufacturing its own line of plastic labware.
The company started in 1989 manufacturing molds. Its website said its sales are about 35 percent in medical device manufacturing, 25 percent each in beauty packaging and labware, and 15 percent in consumer products.
MBS Advisors served as financial adviser to MoldPro.
Plastifab had $15 million in pipe, profile and tubing extrusion sales in 2022, ranking it 116th in the Plastics News 2023 ranking of PPT firms, with an estimated 55 employees and 40 extrusion lines.
Regimen, based in Vancouver, B.C., bought Plastifab in 2016.