April 2018 – Riverside, CA – AMA Plastics, Inc. of Riverside, CA has been acquired by Las Vegas, NV based Westfall Technik, Inc., a global holding company in the plastics manufacturing industry.
AMA Plastics operates 95 presses with clamping forces of 35-720 tons including 16 machines in an expandable ISO Class 8 clean room with the potential for assembly functions. Other AMA capabilities include multi-component and vertical molding, a quality control laboratory and a white room.
Westfall Technik Managing Partner Rick Shaffer in Chandler, Ariz., said AMA’s track record provides complementary capabilities and increased scale to those companies it has acquired since the holding company was incorporated in Delaware in September.
Shaffer said acquisition of the AMA facility gives Westfall Technik the size and scale it requires to execute larger medical and packaging applications already in the holding company’s pipeline.
AMA Plastics CEO Mark Atchison was the processor’s principal owner prior to the sale, and in 2008 he created an employee stock ownership plan that held a major stake in the business. AMA has about 435 permanent and temporary employees. Atchison owned 50.1 percent, and the ESOP participants owned 49.9 percent.
The current AMA core team continues to manage the business in Riverside, and the company’s identity remains the same, Shaffer said.
Atchison said the transition “makes me feel good” and that he is glad “these people have a job going forward.” Many of the employees have 30-40 years of experience with AMA.
Plastics-focused investment banking firm MBS Advisors of Florence, MA represented Westfall Technik in the transaction.
Excerpts from above were taken from an article in Plastics News.