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Universal Plastics buys blow molder Premium Plastic Solutions

Universal Plastics Corp. has added a fourth member to its group of plastics processing companies.

The Holyoke, Mass.-based thermoformer bought Premium Plastic Solutions LLC, a custom blow molder in Latrobe, Pa. The acquisition was completed just before the end of the year, on Dec. 15, and marked Universal Plastics' second acquisition in 2017. Terms of the deal were not disclosed.

Plastics News has reached out to company leadership for further comment.

Premium Plastic Solutions molds large parts for a range of industries, including medical, garden/lawn equipment, waste management, safety equipment, recreational equipment and water bottles. According to the company's website, its previous owners were private equity firms CapitalWorks LLC and Little Mountain Industries Inc., both in Cleveland.

In addition to Universal Plastics Corp., Premium Plastic Solutions joins two other companies within the Universal Plastics Group: thermoformer Mayfield Plastics Inc. in Sutton, Mass., and large-part injection molder Sajar Plastics LLC in Middlefield, Ohio. Sajar Plastics specializes in gas-assist injection molding,

In a Jan. 31 news release, Jay Kumar, president and owner of Universal Plastics Corp. and the group's family of companies, said Premium Plastic Solutions "brings a deep understanding and a long history of blow molding to the Universal Plastics Group."

"It rounds out our capabilities in important ways, adding to the thermoforming and injection molding skills," Kumar said. "With this acquisition, our goal is to meet every need of a prospective user of large molded plastic parts through a [Universal Plastics Group] company."

With a range of large-part blow molding, custom thermoforming and large-part injection molding capabilities, the company said it can be a "supplier of choice" for its OEM customers.

Kumar added that the group is now able to offer injection and blow molding for nearly any volume level, whether prototyping or mass production.

"We are creating a unique capability to serve multiple industries needing large, complex and attractive parts," he said.

All members of the Premium Plastic Solutions staff will stay on in their current roles, according to the news release. Larry Nowak, president and CEO of Sajar Plastics, which Universal Plastics bought in June 2017 for an undisclosed amount, will assume similar responsibilities for Premium Plastic Solutions.

Sajar Plastics is just under a three-hour drive from Premium Plastic Solutions' Latrobe facility.

» Publication Date: 08/02/2018

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