AEA Investors has acquired Spectrum Plastics Group, a designer and fabricator of specialty plastics products, from Kohlberg & Company.
In May 2017, Kohlberg & Company acquired Pexco, a maker of plastic extrusion products, from Odyssey Investment Partners, and merged the company with its existing portfolio company PPC Industries. The newly merged company was named Spectrum Plastics Group. The formation of Spectrum specifically merged the medical products manufacturing of Pexco and PPC Industries’ Kelpac Medical business.
Spectrum designs and manufactures custom and specialty plastics products for niche, high value-added end markets, including medical, food and industrial applications. The company has multiple manufacturing capabilities including thermoplastic and silicone tubing extrusion, injection molding, film, packaging, assembly and value-add manufacturing. The company has 15 plants located in five countries (United States, Mexico, Costa Rica, Ireland and Malaysia) and approximately 2,000 employees. Spectrum is headquartered in Alpharetta, GA (www.spectrumplasticsgroup.com).
“It has been our pleasure to work with Neil and his team in the formation of Spectrum Plastics,” said Seth Hollander, a Partner of Kohlberg & Company. “They have built a true market leader, and we wish them continued success.”
Kohlberg & Company invests in companies in the industrial manufacturing; consumer products; business services; healthcare services; and financial services sectors. The firm concentrates on companies with EBITDAs between $20 million and $100 million where it can invest between $50 million and $200 million of equity. Kohlberg & Company was founded in 1987 and is based north of New York City in Mt. Kisco, NY (www.kohlberg.com).
AEA, the buyer of Spectrum, makes equity and debt investments in middle market companies that operate in the following sectors: retail and consumer products, services, specialty chemicals, and value-added industrial products. The firm manages approximately $10 billion of capital. AEA was founded in 1968 and is headquartered in New York (www.aeainvestors.com).
“AEA Investors is a global investor with a strong track record of supporting companies such as Spectrum and taking them to the next level,” said Neil Shillingford, Spectrum’s CEO. “We are elated to be a part of this team while we evolve our business in specialty and medical plastic manufacturing on behalf of our customers and employees.”
© 2018 Private Equity Professional | February 1, 2018
