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Spectrum Plastics Group Acquired by AEA Investors
The acquisition is quickly followed by Spectrum's acquisition of Apex Resource Technologies
ALPHARETTA, Ga.– Spectrum Plastics Group, a medical extruder with complementary injection molding, silicone, and assembly capabilities, announced at the end of January that affiliates of AEA Investors have acquired the company from Kohlberg & Company, LLC. Less than two weeks later, Spectrum announced that it has acquired Apex Resource Technologies, Inc.
Apex is a full-service design engineering, tooling, and injection molding operation focused on high performance, specialty plastics for the medical device industry. The company employs more than 60 people and operates out of a 45,000-square-foot facility in Pittsfield, Massachusetts.
“Apex has all the elements we are looking for as we evolve our business to the next level," said Spectrum Plastics CEO Neil Shillingford, in a press release. "Great customer relationships, strong engineering and design capabilities, a focus on performance plastics suitable to invasive medical applications, and a solid operating culture that fits our core values."
Formed via the 2017 merger of Pexco LLC and PPC Industries (including its Kelpac Medical subsidiary), Spectrum Plastics Group is a global specialty plastics manufacturer. The company presides over the two separate brands Pexco and PPC for the industrial profile extrusion and industrial film markets, respectively. Spectrum operates more than 15 plants across five countries and three continents, comprising approximately 2,000 employees.
AEA Investors, founded in 1968, is a global private equity firm that manages funds that are reported to have approximately $10 billion of invested and committed capital. Financial terms of the acquisition were not disclosed.
“AEA Investors is a global investor with a strong track record of supporting companies such as Spectrum Plastics Group and taking them to the next level," said Shillingford. "We are elated to be a part of this team while we evolve our business in specialty and medical plastic manufacturing on behalf of our customers and employees."
Based in Alpharetta, Georgia, with multiple plants across the United States, Mexico, Costa Rica, Ireland, and Malaysia, Spectrum Plastics Group provides design and fabrication of custom and specialty plastics products focusing on niche, high value-added end markets. Spectrum offers a full range of custom design, engineering, and fabrication services, meets the requirements of ISO 9001 and ISO 13485, and operates multiple Class 7 and Class 8 clean rooms.
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