Plasticade Products LLC, a Des Plaines, Ill.-based manufacturer of traffic safety and signage products, has a new private equity investor.
Chairman Geoff Glass, who has been with Plasticade for 40 years, is retiring and sold his majority stake to New York-based Radial Equity Partners. Terms were not disclosed.
"We are immensely grateful for Geoff's unwavering commitment and dedication over the years," said David Foy, CEO of Plasticade, in a news release. "He has been more than just a leader — he's been a mentor, a friend and a true champion for our entire team. His leadership and influence have shaped Plasticade into the successful company it is today and we wish him the very best in his well-deserved retirement."
Founded in 1954, Plasticade sells barricades, channelizers, signage and speed bumps used in traffic safety applications; recycled rubber traffic and safety products; and signage products for business advertising and promotion. The company also manufactures and markets HVAC products under the American Louver brand.
"This partnership with Radial marks the start of an exciting new era for Plasticade, positioning the company for even greater growth and success going forward," Glass said in a news release.
Radial invests in middle-market businesses focused on consumer and industrial markets.