Techniplas US LLC has acquired Proper Group's Anderson, S.C., manufacturing operations.
"The acquisition of the Anderson facility deepens our expertise and capabilities with highly visible, Class A surface components," Ali El-Haj, Techniplas CEO, said in an April 25 news release.
The 86,000-square-foot plant, which molds and assembles automotive exterior, consumer and industrial components, employs 120.
"We are eager to welcome Anderson's employees to our company, and excited to be a part of its next phase of growth," El-Haj said.
Warren, Mich.-based Proper cited liquidity issues when it announced in late 2022 that it would close its headquarters plant. A few weeks later, it sold its auto lighting operation in Pulaski, Tenn., to Luxit Group, a unit of Florida-based investment firm New Water Capital LP.
Proper officials later disclosed that they had originally planned to sell more of the business to New Water, but that deal fell apart in November.
But court documents hint that Proper quickly found another potential buyer for the Anderson plant.
In a court filing dated Feb. 28, Proper Chief Financial Officer Blaise Flack said that Proper entered into a letter of intent to sell the Anderson plant on Nov. 17.
That deal, however, ended up being delayed, first by financing issues, according to court documents.
"Through no fault of PGI, the closing was delayed multiple weeks due to the buyer's delay in securing financing for equipment leases necessary to operate the plant," Flack said.
When the financing issues were worked out, the buyer then said it needed to reach an agreement with Proper customer BMW before finalizing the sale.
Proper Group and Techniplas did not immediately respond to separate inquiries for comment.