The Plastek Group, a global leader in the manufacture and supply of premium rigid plastic-molded packaging products, on Wednesday announced a strategic partnership with the investment bank Blaige & Company to pursue growth and expansion through a comprehensive acquisition plan. This collaboration marks a pivotal moment in Plastek's commitment to reinforcing its position as an industry leader in the fast-moving consumer goods sector.
After years of strong growth and selective acquisitions under the leadership of founder and Plastics Hall of Fame Member, Joe Prischak, the second generation of Plastek led by Joe's four sons — Dennis, Daniel, Douglas, and Donald — seeks to use M&A as a strategic tool to drive inorganic growth (to complement continued organic growth), with the goal of doubling sales by 2030.
Dennis Prischak, president and CEO of Plastek, commented, “As we look to grow our company long into the future, we are looking for potential partners who share our commitment to our industry, our customers, our co-workers, and all our stakeholders and can enhance our combined capabilities and resources and provide even more value to our customers.”
Plastek provides potential sellers with the opportunity to partner with one of the most highly respected plastics processors in North America — also a leading employer featuring a strong family culture.
Thomas Blaige, CEO of Blaige, commented, “Plastek is the partner of choice for rigid packaging and medical molding applications as they provide a great alternative to private equity buyers as they have a long-term view (not seeking to “flip”), and a conservative (versus a leveraged) capital structure.”
Plastek is actively seeking a strategic partnership with a leading middle-market plastic packaging company, specializing in plastic injection molding for containers, caps, closures, medical devices, diagnostic equipment, and pharmaceutical packaging. The company is also exploring various plastics manufacturing processes such as blow molding, thermoforming, rotational molding, 3D printing, polymer casting, and contract filling.
Plastek is ready to provide resources to the new partner with the unique opportunity to:
- Expand footprint and production capabilities
- Facilitate organic and inorganic growth
- Restructure equity ownership for desired liquidity and growth incentives
- Support and expand the existing management team or facilitate transition planning
Established in 1956, as a toolmaking company and later an injection molding company, The Plastek Group is a leading manufacturer of plastics packaging for diverse industries, including personal care, beauty, home care, pharmaceuticals, and food & beverage.
Operating six state-of-the-art facilities in the United States, the United Kingdom, Brazil, and Mexico, the company provides a comprehensive range of services, encompassing industrial design, product and packaging development, mold design and injection, assembly, and decorating.
The Plastek Group is recognized as one of Plastics News' top 20 North American entities in the field of overall Injection Molding, and it holds a position within the top 10 in Packaging Injection Molding.
The company adeptly addresses diverse customer needs by investing strategically and making targeted acquisitions in existing markets. With strong finances, established infrastructure, ample capacity, and technical expertise, the Plastek Group ensures ongoing support for customers. Actively pursuing quality acquisitions, the company aims to enhance its resources and better meet customer demands.
The collaboration between Plastek and Blaige & Company exemplifies the commitment to excellence and forward-thinking strategies that both entities bring to the table. Together, they are set to navigate the evolving market dynamics and capitalize on strategic opportunities, reinforcing Plastek's position as an industry leader.
For more information about The Plastek Group, visit www.plastekgroup.com.
