Phillips Plastics Corp. acquired by Kohlberg & Company LLC

’ current CEO. Wucherpfennig will continue to lead the company and the entire management team will remain in place, according to information from Phillips.
           
“Working with Kohlberg, we will be able to strategically grow our business to meet the needs of our customers worldwide,” Wucherphfnnig added.
           
Backed by the financial strength of Kohlberg’s private equity funds, it is expected that the acquisition will accelerate Phillips' ability to serve its customers on a global basis. “We are excited to be working with the people of Phillips,” commented Sam Frieder, managing partner of Kohlberg, in a prepared statement. “The company already possesses a strong market presence and recognized brand—we look forward to helping Phillips enhance and expand its service offering, which will directly benefit customers across all market segments.”

Kohlberg plans to maintain current operations, allowing Phillips’ long-standing tradition of design, development, and manufacturing excellence to continue unimpeded. “Partnering with Kohlberg represents an enormous opportunity for our company,” said Wucherpfennig. “Together we will focus on expanding our business to provide increased value for our customers, shareholders, employees and the communities in which we live and work.”

Phillips Plastics Corp. is a manufacturer of engineered injection molded plastic and metal products with annual sales of over $250 million. The company employs 1300 people in 14 locations throughout the United States, including design centers in Wisconsin and California, and a medical campus with 180,000 ft² of FDA-registered facilities dedicated to high-volume medical and cleanroom manufacturing. The company’s medical operations are cGMP compliant and registered to 21 CFR parts 820, 210, and 211. Phillips provides complete services from concept design, rapid prototyping, and tooling through production, assembly, packaging, and distribution to a variety of markets. —Clare Goldsberry