Pexco, a portfolio company of Odyssey Investment Partners, has acquired Plastic Profiles.
Plastic Profiles is an extruder of niche stock shapes with a specialization in fluoropolymer rods, tubes and compression molded sheets. The company’s products are designed for chemical stability, electrical properties and mechanical use in low and high-temperature environments in the semiconductor, aerospace and defense, life science and industrial sectors.
Plastic Profiles, led by President Michelle Tripucka, was founded in 1965 and is headquartered in Parsippany, New Jersey. “I am very proud of what we have built here at Plastic Profiles and am very happy to join the Pexco family of companies,” said Ms. Tripucka. “This begins the next chapter of our company’s progression, and we are excited about the potential to benefit from Pexco’s vast resources with the hopes of better serving our loyal customer base with an expanded product range.”
Pexco is a designer and fabricator of custom and standard extruded plastics products. The company provides standard and specialty parts and components to manufacturers and end-users across a range of applications in the specialty industrial, fluid handling, lighting, traffic safety, fence, and electrical insulation industries. Pexco, led by CEO Sam Patel, is headquartered in Atlanta with multiple plants across the United States and Mexico.
“The acquisition of Plastic Profiles further expands our capabilities and technical expertise in the world of high-performance polymers,” said Pexco CEO Sam Patel. “The company’s reputation as a reliable, high-quality supplier of PCTFE, FEP, PFA and ETFE product lines will add considerable value for our customers as we continue to build out our portfolio of technical capabilities utilizing higher-grade raw materials for critical applications.”
Odyssey first invested in Pexco in August 2012 and sold the business in May 2017 to Kohlberg & Company. At that time, Kohlberg merged Pexco with its portfolio company PPC Industries and named the merged company Spectrum Plastics. In January 2018, Pexco was acquired AEA Investors as part of the firm’s acquisition of Spectrum Plastics from Kohlberg. In March 2022, Odyssey – using a different fund than for its 2012 investment – acquired Pexco from AEA Investors.
The buy of Plastic Profiles is Pexco’s third add-on acquisition under Odyssey’s ownership and follows the September 2022 acquisitions of Ohio-based Performance Plastics and Connecticut-based Enflo.
Odyssey makes control investments in middle-market companies that have from $20 million to $100 million of EBITDA and are active in the industrial and business services sectors. In February 2020, Odyssey held a first, final, and hard cap closing of Odyssey Investment Partners Fund VI LP with $3.25 billion of capital.
© 2022 Private Equity Professional | November 8, 2022
