Custom extruder Pexco buys Spectrum Plastics Group

Spectrum Minnesota (Spectrum) is a precision injection molder of advanced thermoplastics selling primarily into the medical and surgical, defense, and aerospace fields.   The move formally represents a first step for Pexco outside its traditional profile extrusion processing technology.

Neil Shillingford, Pexco CEO, said: "For many years Pexco has long defined itself as a custom profile extruder, selling into a variety of applications and markets.  But truly, from the broader perspective, which would include our downstream processing capabilities, our business has been specialty plastics conversion, fulfilling the needs of industry for value-added plastic components and products.  So the addition of Spectrum fits our overall business paradigm quite well - strong niche market positions, great product manufacturing, complex engineering, and precision plastics conversion."

Pexco said that its profile extrusions complement injection molded plastics when used within the end-products they serve.

Spectrum Plastics has been owned by Spell Capital Partners, a Minneapolis-based private equity firm.  The Minnesota operation, led by Doug Johnson and which will retain the Spectrum name, brand, and leadership team under Pexco, has been in business for more than 50 years. 

The company employs approximately 160 and has a 105,000 square foot facility, featuring two medical grade clean rooms, some 40 injection molding presses from 12 to 600 tons, and in-house engineering and product development capabilities, including assembly and packaging services.

This acquisition marks the second addition to Pexco since Odyssey Investment Partners, LLC purchased the custom plastics business in 2012.  Pexco in July announced the acquisition of Scandia Plastics, a custom extruder more typical of its traditional business model.

Pexco has eleven plants in the United States and Mexico.

In 2011, the Spectrum Plastics Group (SPG) brought on line more than 13,000 square feet of new clean room space, doubling its capacity for the healthcare market.