10.02.13
Pexco LLC, a specialty plastics processor, has entered the injection molding business with the acquisition of the Minnesota-based operation of Spectrum Plastics Inc. Spectrum Minnesota is a precision injection molder of advanced thermoplastics selling primarily into the medical and surgical, defense and aerospace fields.
The move formally represents a first step for Pexco outside its traditional profile extrusion processing technology.
"For many years Pexco has long defined itself as a custom profile extruder, selling into a variety of applications and markets. But truly, from the broader perspective, which would include our downstream processing capabilities, our business has been specialty plastics conversion, fulfilling the needs of industry for value-added plastic components and products," said Neil Shillingford, Pexco's CEO. "So the addition of Spectrum fits our overall business paradigm quite well—strong niche market positions, great product manufacturing, complex engineering, and precision plastics conversion.”
In many of Pexco’s markets, its profile extrusions complement injection molded plastics when used ultimately with or within the end-products they serve. The availability of molded plastics to customers is expected to enhance the overall Pexco value proposition with integrated solutions, according to company officials.
Spectrum Plastics has been owned by Spell Capital Partners, a Minneapolis, Minn.-based private equity firm. The Minnesota operation, led by Doug Johnson and which will retain the Spectrum name, brand, and leadership team under Pexco, has operated for more than 50 years. The company employs approximately 160 people within a 105,000-square-foot facility, featuring two medical grade clean rooms, roughly 40 injection molding presses from 12 to 600 tons, and in-house engineering and product development capabilities, including assembly and packaging services.
Spectrum is known for its ability to process complex engineering resins, especially those suited to medical products, notably implantable surgical devices and fixtures.
Doug Johnson, Spectrum General Manager, said there’s "no doubt" that the merger of companies is "a great fit" strategically and culturally.
"We believe there are strong commercial synergies to be had with our respective aerospace and medical markets, among others in our joint business pipeline requiring first-class plastics engineering," Johnson said. "The two teams are committed to creating high-value plastics solutions for markets and customers.”
This acquisition marks the second addition to Pexco since Odyssey Investment Partners LLC purchased the custom plastics business in August of 2012. In July, Pexco the acquisition of Scandia Plastics, a custom extruder more typical of its traditional business model but equally unique in its processing expertise and finishing capabilities.
Pexco is based in Atlanta, Ga., with 11 plants in the United States and Mexico
The move formally represents a first step for Pexco outside its traditional profile extrusion processing technology.
"For many years Pexco has long defined itself as a custom profile extruder, selling into a variety of applications and markets. But truly, from the broader perspective, which would include our downstream processing capabilities, our business has been specialty plastics conversion, fulfilling the needs of industry for value-added plastic components and products," said Neil Shillingford, Pexco's CEO. "So the addition of Spectrum fits our overall business paradigm quite well—strong niche market positions, great product manufacturing, complex engineering, and precision plastics conversion.”
In many of Pexco’s markets, its profile extrusions complement injection molded plastics when used ultimately with or within the end-products they serve. The availability of molded plastics to customers is expected to enhance the overall Pexco value proposition with integrated solutions, according to company officials.
Spectrum Plastics has been owned by Spell Capital Partners, a Minneapolis, Minn.-based private equity firm. The Minnesota operation, led by Doug Johnson and which will retain the Spectrum name, brand, and leadership team under Pexco, has operated for more than 50 years. The company employs approximately 160 people within a 105,000-square-foot facility, featuring two medical grade clean rooms, roughly 40 injection molding presses from 12 to 600 tons, and in-house engineering and product development capabilities, including assembly and packaging services.
Spectrum is known for its ability to process complex engineering resins, especially those suited to medical products, notably implantable surgical devices and fixtures.
Doug Johnson, Spectrum General Manager, said there’s "no doubt" that the merger of companies is "a great fit" strategically and culturally.
"We believe there are strong commercial synergies to be had with our respective aerospace and medical markets, among others in our joint business pipeline requiring first-class plastics engineering," Johnson said. "The two teams are committed to creating high-value plastics solutions for markets and customers.”
This acquisition marks the second addition to Pexco since Odyssey Investment Partners LLC purchased the custom plastics business in August of 2012. In July, Pexco the acquisition of Scandia Plastics, a custom extruder more typical of its traditional business model but equally unique in its processing expertise and finishing capabilities.
Pexco is based in Atlanta, Ga., with 11 plants in the United States and Mexico