The first closing, which took place on March 8th, involved the sale of LM Contract, a privately-owned Canadian entity with a precision automotive molding subsidiary in Saltillo, Mexico. This company, also known as Lou-Mac Manufacturing, was acquired by Kugami Precision Plastics, a decorative automotive molder with plants in Japan and China. MBS advised LM Contract in the transaction.
The second closing, which took place on March 11th, was the acquisition of 3D Plastics of Gladewater, TX by Quantum Plastics of Elgin, IL. 3D Plastics is a custom injection molder and custom blow molder serving the automotive, ammunition and food-beverage markets. 3D operates out of a 50,000 square foot building in Gladewater. 3D utilizes 15 injection molding machines up to 360 tons and 8 extrusion blow molding machines. MBS advised 3D Plastics in connection with the transaction.
The final transaction, which was the 75th overall deal for MBS, involved the merger of Plasticos Promex of El Paso, TX with Quantum Plastics of Elgin, IL. Plasticos Promex is a custom injection molder with manufacturing in Juarez, Mexico. It serves the appliance, consumer, electronics and industrial end-markets. The company utilizes 60 injection molding machines up to 750 tons and its combined facilities total 150,000 square feet. MBS advised Plasticos Promex in connection with the merger.
The M&A market is hot right now! This was one of the busiest and most memorable weeks in MBS history, and we expect the momentum to continue at least through the end of 2016!