Middlefield, OH – June 2017 – Heavy-gauge thermoformer Universal Plastics of Holyoke, MA has acquired gas-assist injection molding specialist Sajar Plastics. Sajar has been owned by Pittsburgh-based private equity firm Main Street Capital Holdings since 2008.
“All of our customers who buy thermoforming also buy gas-assist injection molding,” said Jay Kumar, president of Universal Plastics. “When I heard that Sajar was for sale, and I knew about its incredibly strong reputation, I pounced on it.”
Many Universal Plastics customers start out with custom thermoforming and graduate to injection molding if their product volumes increase. Sajar’s low-volume, gas-assist capabilities give Universal the opportunity to support customers further along the product life cycle, Kumar said.
Larry Nowak, Sajar’s president and CEO for the last six years will remain with Sajar and continue in his role at the Middlefield plant. When asked about the deal and why Main Street decided to sell, Nowak had this to say: “They’re committed investors, they stay in a business for however long it takes. They wanted to make sure they had a healthy growing company again before they let it go. That’s what Universal bought, a healthy growing company.”
Molding Business Services of Florence, MA served as the exclusive advisor to Sajar Plastics in connection with the sale.
Excerpts from an article published by Plastics News were used above. Click here to read the full article.