Spectrum Plastics Group, a designer and fabricator of specialty plastics products, has acquired Apex Resource Technologies. Spectrum was acquired by AEA from Kohlberg & Company earlier this month.
Apex Resource Technologies (ART) is a design engineering, tooling, and injection molding company with a focus on high performance, specialty plastics for the medical device industry. ART’s range of molding machines, ancillary equipment and clean room facilities allows it to mold medical components for a variety of applications including permanent and absorbable implantable anchors; handles and covers with over-molded shafts or secondary shaft assemblies; lancet and tray assemblies; screws and sheaths; tissue capture devices; and dental repair and enhancement devices.
ART, led by its founder and president Don Rochelo, employs over 60 people and operates out of a 45,000 square foot facility in Pittsfield, MA (www.apexresourcetech.com).
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).
“Apex has all the elements we are looking for as we evolve our business to the next level,” said Neil Shillingford, Spectrum Plastics CEO. “Great customer relationships, strong engineering and design capabilities, a focus on performance plastics suitable to invasive medical applications, and a solid operating culture that fits our core values. We plan to continue pursuing acquisitions that fit our core objectives, to provide specialty plastic solutions on behalf of the medical device industry and our customers.”
AEA 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).
© 2018 Private Equity Professional | February 14, 2018