Mid-market private equity firm Kohlberg & Co. LLC (Mount Kisco, NY) announced today that it has closed the acquisition of Pexco and successfully merged it with PPC Industries Inc., a Kohlberg portfolio business that also comprises Kelpac Medical.
Pexco has a more than 50-year history of providing injection molding and extrusion services to medical device OEMs. Kelpac Medical is specialized in medical tubing and assemblies. The companies will operate under the new name of Spectrum Plastics Group (Minneapolis, MN), which will have its official debut at the co-located MD&M East and PLASTEC East event in New York next month.
The new name underscores the wide and comprehensive range of plastic and material solutions it is now able to bring to market, most notably for the medical device sector. Spectrum Plastics Group will feature multiple thermoplastic and silicone tubing extrusion, injection molding, film, packaging, assembly and value-add manufacturing technologies across 20 plants, five countries, and three continents. More than 2,000 employees work for the merged companies.
The formation of Spectrum Plastics Group creates a more comprehensive suite of medical solutions under one provider, said Kolberg & Co. in a press release issued today. The medical business will consist of 15 manufacturing facilities across the globe and feature both thermoplastic and silicone technologies. Both Pexco and PPC Industries, however, will retain their industrial brands and marks for industrial profile extrusion and industrial packaging businesses, respectively.
The Spectrum Plastics Group name belonged to the Pexco portfolio of brands as a result of its acquisition of the Minneapolis-based precision injection molder in 2013. It is relaunching with a new mark and logo.
Commenting on this new name and brand for the entire operating unit, Mauricio Arellano, President of the medical division, indicates that it fits the proposition perfectly. “We now bring a full spectrum and in most cases unmatched set of specialty plastics capabilities to the medical device sector, so the opportunity to relaunch our brand, one with a long history in medical devices and strong brand equity with our customers, was compelling. It speaks precisely to our unique position within the medical device market and our ability to support our customers’ noble mission of restoring health for millions of patients worldwide.”
Spectrum Plastics Group looks forward to telling its story to MD&M East/PLASTEC East attendees at booth 1329. The event comes to the Jacob K. Javits Convention Center in New York from June 13 to 15. For more information about the trade show and conference, including a special keynote presentation from Apple co-founder Steve Wozniak, go to the event website.