Materials firm Techmer PM has made its second acquisition in four months, this time acquiring color supplier Colors for Plastics Inc. for an undisclosed price.
In a phone interview, Techmer CEO Mike McHenry said CFP employs about 120 and "brings [Techmer] another perspective and new customers in consumer and rigid packaging." He added that the acquisition will allow Techmer to re-enter the liquid color market.
According to McHenry, there was not much overlap in materials offered by Techmer and CFP. He added his firm will continue to look for acquisitions. "We're active in the market right now," McHenry said.
CFP President Robert Dalleska said that joining forces with Techmer "is an exciting opportunity for us. Together, we'll be able to offer even more innovative and comprehensive solutions."
Robert's father John Dalleska founded Elk Grove, Village, Ill.-based CFP in 1972. Robert Dalleska became the firm's president in 2018. He'll now join Techmer as a vice president.
CFP has production sites in Elk Grove Village and in Spartanburg, S.C. The firm makes color compounds, color concentrates and liquid color products.
The CFP deal closed Jan. 31. It comes after Techmer's October acquisition of OptiColor Inc. of Huntington Beach, Calif. OptiColor makes color compounds and concentrates for performance eyewear, military lasers, sustainable lighting and similar uses.
Techmer is based in Clinton, Tenn., and also operates U.S. plants in Rancho Dominguez; Wichita, Kan.; Dalton, Ga.; New Castle, Del.; and Batavia, Ill. It also operates a plant in Querétaro, Mexico, and employs more than 600 worldwide.
Since 2014, Techmer has been named to Plastics News' Best Places to Work list six times, most recently in 2021. CFP made that same list in 2015, 2018 and 2023. Techmer is one of North America's 30 largest compounders and concentrate makers, according to PN data.
In September 2022, private equity firm Gryphon Investors of San Francisco bought a majority stake in Techmer. Techmer management and investment firm SK Capital retained minority stakes in the firm.