Sherman, Texas-based Presco Polymers Opco Inc. acquired Libertyville, Ill.-based William Frick & Co., a designer and manufacturer of specialty labeling and marking products, to create strong cross-selling opportunities while diversifying the companies' product portfolios.
Presco officials said the merger with Frick creates a market-leading platform in terms of scale and capabilities.
Formed in 1943, Presco manufactures safety marking products, such as barricade tape, roll flagging and Krylon paint, as well as damage prevention products, such as underground warning tape for fiber-optic lines and voltage cables and tracer wires to mark utilities.
Frick produces custom labels, signs, tags, markers, nameplates and radio frequency identification for customers in the utility, OEM, aerospace, logistics and asset management industries. The company will retain its name and continue to operate in Libertyville.
The deal is in line with Presco's strategy to become the leading provider of safety marking and damage prevention products, according to Presco CEO Lisa McGregor.
"The acquisition of Frick brings us one step closer to accomplishing this goal. The combination of resources, services and extension of products opens numerous opportunities for both entities," McGregor said in a news release.
The previously acquired Pro Line Safety Products also is part of this pursuit. Presco bought the business, which manufactures tracer wire and safety marking products, including detectable and nondetectable tapes for underground marking, in late 2019.
Presco manufactures safety marking products as well as extruded engineered films and laminated products at two dedicated manufacturing facilities in Sherman. The plants house three custom compounding and extrusion lines and more than 40 custom stake flag and tape converting lines for safety marking products.
With estimated sales of $42 million, the company's film division, which is called Presco Products Inc., ranks as the 98th-largest film and sheet producer in North America, according to Plastics News' latest ranking.
The deal to acquire Frick closed Dec. 22, 2020. Terms weren't disclosed.
Frick President Jim Brandt said Presco's "tenure and reputation" in the industry "set them apart" during the sale process.
"Their support and respect for our products made us confident that joining our companies was the right decision. We are fortunate to have found such a synergistic partnership and look forward to our next chapter with Presco," Brandt said in the release.
The Frick acquisition adds to Presco's portfolio of offerings and expands its reach to existing and complementary markets, according to company officials, who are looking to make another deal.
Presco's management team continues to seek strategic acquisition partners for the company. The business is a portfolio company of River Associates Investments, a private equity firm based in Chattanooga.