March 2019 – Cary, NC – Syracuse Plastics of North Carolina has been acquired by Germantown, WI-based Plastics Components, Inc. (PCI)
Syracuse Plastics is a full-service injection molder and contract manufacturer of precision components and assemblies for appliances, consumer products, electronics, industrial, water systems, telecommunications, and other markets. Syracuse operates out of a 55,000-square-foot facility and has injection molding presses from 31-1,100 tons.
PCI CEO Derrill Rice said in a statement, “SPNC significantly enhances the solution portfolio PCI can offer its customer base in terms of press tonnage, value-added services, and short lot processing capabilities.”
PCI is owned by MPE Partners, a private equity firm with offices in Boston and Cleveland. The company runs 67 injection molding machines with clamping forces ranging from 35-500 tons at its two Germantown facilities — 47 presses at its main factory on Morse Drive and 20 fully automated work cells at the Bunsen Drive lights-out plant. PCI was named in PN’s Best Places to Work for 2018. It was also named Processor of the Year in 2008.
Tom Falcone, President of Syracuse Plastics was quoted saying, “SPNC and PCI have a unique cultural alignment in terms of our passion for the customer, our commitment to service, quality and innovation, and our recognition that our employees are our No. 1 asset that differentiates both of us in the marketplace.”
MBS Advisors served as the financial advisor to Syracuse Plastics in the transaction. This marks MBS’ 100th transaction since its inception in 1998.
The above excerpts were taken from excerpts from a recently published article in Plastics News. Click here to read the entire story.