US Distribution LLC has acquired heat shrinkable products maker Thermosleeve USA.
US Distribution is a unit of investment firm TRS Capital of Fort Walton Beach, Fla. In a news release, TRS officials said that Cerritos, Calif.-based Thermosleeve is the leading supplier of heat-shrinkable products in the U.S.
Thermosleeve founder David Levy will continue to be active in the company, overseeing the transition and helping with future growth. Executives Johnson Yan and Stephanie Malloy also will continue with the firm. Tim Bagley will join Thermosleeve as business development director. In that role, he'll be in charge of day-to-day operations, sales and marketing.
"I bring my 30-plus years of experience in sales within the fastener, industrial, electrical, automotive and retail markets to the team, and look forward to helping grow the Thermosleeve brand throughout all of North America," Bagley said in the release.
"With this acquisition, we continue our commitment to American business," TRS Founder and CEO Robert Sires added. "We have always felt strongly that it is vital to keep jobs at home to strengthen our country's economy, and this is even more important in today's environment."
Thermosleeve offers a comprehensive range of heat-shrinkable tubing in various colors and shrink ratios. The firm's products are widely used in global markets, including aerospace, automotive, communications and construction.
Thermosleeve was founded in 1988. According to its website, the firm makes 30 percent of the world's heat-shrink tubing products and 40 percent of all PTFE tubing. Thermosleeve also makes products based on polyolefins and PET. The firm is a Samsung and Sony Green Partner.
TRS currently has eight active and eight passive investments. In August 2020, the firm's American Elite Molding LLC unit — a maker of nylon cable ties — launched American Elite PPE to produce U.S.-made melt-blown polypropylene for filters used in medical-grade face masks and gowns.
American Elite PPE — now operating as U.S. Meltblown — operates a 20,000-square-foot site in Fort Walton Beach. According to the TRS website, the firm has sold American Elite Molding. Company officials could not be reached for comment.
Other plastics-related companies in TSR's portfolio include cable tie maker Cable Tie Express of Noblesville, Ind.; and Sealtech International, a maker of plastic and rubber seals based in the United Arab Emirates.