Plastics play a big role in RV manufacturing. Here’s how one magazine views the health of that industry in 2021.
During the pandemic, many of us have come up with lists of things we’d do when things go back to normal.
For some people, items on this list were as simple as eating in a restaurant again or taking a trip. Judging by recent market activity, a lot of companies and private equity firms had “buy a plastics company” on their own back-to-normal lists.
Since early April, Plastics News has reported on 26 M&A deals. That’s a fairly large number of stories for that topic in less than two months.
One recent example is private equity firm The Jordan Co. LP of New York buying a majority stake in plastics processor Spartech LLC from another PE firm, Nautic Partners of Providence, R.I. Spartech ranks as one of North America’s 25 largest film and sheet makers and one of the region’s 50 largest thermoformers, according to Plastics News data.
Active buyers have remained active. PPC Flexible Packaging LLC acquired Target Labels & Packaging LLC, a maker of packaging labels, rollstock and pouches in North Salt Lake, Utah. It’s the second deal in six months and seventh in less than four years for Buffalo Grove, Ill.-based PPC, a supplier of custom flexible packaging.
RV giant Patrick Industries Inc. of Elkhart, Ind., has made three deals in 2021, including two in the last six weeks. In that time, it’s bought Alpha Systems LLC, an Elkhart-based maker of thermoplastic polyolefin membrane roofs for RVs, and Hyperform Inc., a Florida-based manufacturer of nonslip foam flooring sold under the SeaDek brand name.
Click here to read the full story by Frank Esposito in Plastics News.