The purchase includes the acrylic sheet, PET and polycarbonate lighting sheet product lines of Niles, Ill.-based ALP, as well as extruded profile lenses. Officials with Plaskolite in Columbus, Ohio, said that the deal further expands the firm's portfolio of thermoplastic solutions for any application.
“ALP has been a respected leader in lighting for more than 60 years, and we are excited to add their capabilities and quality products to further expand our offering,” Plaskolite President and CEO Mitchell Grindley said in a Dec. 4 news release.
ALP CEO Steve Brown added in a news release that his firm's relationship with Plaskolite and the Dunn family, who founded Plaskolite in 1950, extends back to the formation of ALP.
“This transaction meets our ‘win-win-win' business standard, in that it benefits ALP, Plaskolite and our customers,” he said.
ALP will retain its LexaLite line of injection molded lighting optics. Near-term plans include adding injection molding to the company's Monterrey, Mexico, facility by the third quarter of 2019. ALP's Charlevoix, Mich., plant, which recently added a work cell with a 1,650-ton press, will add further upgrades aimed at molding edgelit panels.
Additional moldable optical silicone capacity and an advanced automation cell are also expected to come online in early 2019.
The company also is developing a new line of silicone TIR optics, under the LexaLite umbrella, and additional large steel stamping equipment for its metals product area.
Officials described ALP as an international leader in the design, manufacturing and distribution of lighting components and components for other technical industries. The acquisition expands Plaskolite's lighting business and further positions the firm as a leader in the thermoplastic sheet and lighting segment.
Earlier this year, Plaskolite acquired the Rotuba lighting profile lighting business, the continuous cast acrylic sheet business of Lucite International and Covestro's U.S. polycarbonate sheet manufacturing business.
With the ALP deal, Plaskolite now employs 1,250 people in Ohio, Texas, California, Mississippi, Tennessee, Massachusetts, New Jersey and Mexico. The firm has annual sales of more than $550 million and now has made 17 acquisitions in the last 11 years.
In early November, investment firm PPC Partners bought a majority stake in Plaskolite from a unit of Charlesbank Capital Partners for an undisclosed price. The Dunn family and Plaskolite's management team also retained stakes in the company.
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Plaskolite makes acrylic, polycarbonate and glycol-modified PET sheet for a wide range of applications, including windows, doors, lighting, signs, point-of-purchase displays and bath products. The firm serves a diverse customer base including distributors, OEMs and retailers.
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