NewCo Plastics, a unit of private equity firm White Wolf Capital, has acquired Lockport, Ill.-based injection molder and mold maker Magenta LLC and its affiliates, Permian Plastics LLC and MM Plastics LLC.
The deal is the platform's third acquisition to date. following its purchase of PM Mold Co. in 2022 and Hilco Plastics Holdings, an injection molder in Grand Rapids, Mich., that White Wolf first invested in in 2012.
NewCo said the purchase will expand its services for customers in the medical, personal care, pharmaceutical and industrial markets. Terms were not disclosed.
Permian Plastics LLC is a custom injection molder based in O'Fallon, Mo. It was founded by Dale Emge in 1994 and has annual sales of $17 million, according to Plastics News data.
Magenta LLC was established in 1969 and specializes in custom designed and manufactured molded closures, containers, components and drinkware.
Both companies were previously owned by SFH Co. LLC, a Downers Grove, Ill.-based holding company.
"NewCo Plastics and White Wolf are proud to be partnering with the teams across the Magenta footprint and look forward to expanding their service offerings to better serve our customer base," Jordan Earnheardt, vice president at White Wolf Capital Group, said in a May 15 news release.
"NewCo's strengths in customer relationships, workforce development, and emphasis on being the highest quality manufacturer in the industry align perfectly with our culture," Bob Mallo, CEO of the Magenta group of companies, said in the release.
"With our collective efforts, we will be able to further expand and provide additional opportunities to our customers and associates," Mallo said.
Jonathan Satter, chief operating officer and managing director of White Wolf Capital, declined to further comment in an email to Plastics News.
White Wolf Capital formed NewCo Plastics to partner with and acquire North American plastics injection molding and plastics manufacturing companies with annual sales of $5 million to $50 million serving end markets including medical, personal care, aerospace, defense, food and beverage.