Novi, Mich.-based Revere Plastics Systems purchased Rochester, N.Y.-based Alliance Precision Plastics Corp.'s maquiladora Alliance-McAlpin NY LLC, and its subsidiary, Alliance-McAlpin MX, effective Dec. 30.
The acquisition includes a 53,000-square-foot manufacturing facility in Saltillo, Mexico, 23 injection molding presses ranging from 67 to 720 tons and all of the company's customers. The purchase establishes Revere's first facility in the country.
"This acquisition gives Revere an important foothold in the vibrant manufacturing region of Northeastern Mexico," RPS CEO Glen Fish said in a Jan 5 news release.
"A lot of our customers already have manufacturing in Mexico and we already have several million dollars worth of business booked," Doug Drummond, vice president of sales and marketing at RPS, told Plastics News.
An RPS team arrived at the Mexico facility Jan. 5 to start the transition process, Drummond said. The facility has "an opportunity to expand up to 120,000" square feet, he said.
"The acquisition of A-MNY and A-MMEX enhances our ability to quickly bring products to market in a very cost-effective way," Fish added. "This is our third facility acquired during 2020. To be able to continue expanding while satisfying our current customer base during a global pandemic is an achievement worth celebrating."
"This facility will be a good launch pad for us to start growth almost immediately," he said.
MBS Advisors of Florence, Mass., advised Alliance in the transaction. Terms were not disclosed.
"We're excited to work with current A-MMEX customers, and to introduce new market leaders to the Mexico operation," Kiki Nimtz, chief commercial officer at RPS said in the release. "Expanding our client base and manufacturing capabilities are key to Revere's long-term growth strategy."
Revere ranked No. 39 in the most recent Plastics News ranking of North American injection molders, with estimated sales of $255 million.