ILLINOIS PLASTICS MANUFACTURER ACQUIRED BY STRATEGIC BUYER
NuVescor Group is pleased to announce the successful sale of an Illinois plastics manufacturer to an established company in the same industry.
The plastics manufacturer which has been purchased is both a contract manufacturer and custom injection-molding company that produces plastic components for longtime, repeat customers in industries including automotive and fitness. The company had revenues of $15MM in 2022.
The strategic buyer offers plastic injection molding, product development, engineering, assembly, tooling management and development, and product development assistance. The buyer saw the value in the extensive customer list as well as the equipment that would provide synergistic growth opportunities. The Company utilizes both electric and hydraulic horizontal presses as well as vertical and rotary platen presses for custom molding and insert molding.
NuVescor Group assisted in the sale of the business, bringing a buyer with a strong fit looking to grow through acquisition.