Custom Plastics acquires Atlantis Plastics molding division

) by Custom Plastic Solutions LLC, an affiliate of Monomoy Capital Partners LP, a private equity fund that was the successful bidder at the Oct. 2 auction. Monomoy paid $23.1 million in cash and assumed $7 million in liabilities. Atlantis employs 900 and counts as its largest customer the appliance manufacturer Whirlpool. The acquisition of substantially all the assets of Atlantis’ films business goes to AEP Industries Inc.

“Monomoy is a great fit for our business,” said Ken Comer, head of the Atlantis molded products group. “After working with the Monomoy team over the past two months, we are confident that Monomoy will help us improve every aspect of the company and that we will continue to improve our products and customer service under Monomoy ownership.”

The private equity fund also acquired custom molder L&P Plastics (HQ in Murray, KY; www.lpplastics.com) in late September.