Pexco LLC Continues Expansion Initiatives with Acquisition of Performance Elastomers Corporation
JOHNS CREEK, Ga.–(BUSINESS WIRE)–Pexco LLC, a leading North American specialty plastics extruder, is pleased to announce the acquisition of Performance Elastomers Corporation (PEC). Based in Ravenna, Ohio, near Akron, Performance Elastomers specializes in manufacturing dense and sponge elastomer products, including both rubber-based and thermoplastic elastomers (“TPEs”), used in recreational vehicle, automotive aftermarket, marine and heavy equipment applications.
Established in 1992, PEC began with a single extruder in a 10,000 square foot building. Today, PEC operates 15 extruders in facilities spanning over 100,000 square feet, providing a wide array of secondary and fabrication services as well as in-house tool and die capabilities.
Pexco CEO Sam Patel stated, “We are delighted to welcome Performance Elastomers to the Pexco family of companies. Performance Elastomers’ competencies provide an excellent fit with Pexco’s long-term commitment to strategic growth through the delivery of superior product and process innovation. Through this acquisition, Pexco looks forward to expanding the silicone and thermoplastic elastomer products and broadening its capabilities to include other high performance polymer solutions to deliver even greater value to our customers in the mobility, recreational vehicle and truck aftermarkets as well as expand into applications within other industries where these types of specialized products are required.”
Owners Art Bowen and Dave Spears stated, “We are extremely pleased to join forces with Pexco LLC, whose scale, reputation, and expertise will now provide an even broader array of services and solutions to our customers. Our new alliance will only reinforce our deep commitment to quality, service, and the ongoing development of unique product applications across the many market segments we currently serve.”
Since 2009, Pexco has executed on multiple acquisitions as it has grown into the largest industrial custom plastics extrusion company in North America.
Pexco was acquired in 2018 by AEA Investors, the global private equity group. The purchase of PEC represents Pexco’s ninth acquisition under its new ownership. Patel stated that “We remain committed to the ongoing, strategic expansion of our capabilities, including the pursuit of key acquisitions that fit our core objectives as North America’s premier provider of custom plastics solutions.”
About Pexco LLC
Based in Atlanta with multiple plants across the United States and Mexico, Pexco is a North American leader in the design and fabrication of custom extruded and injection molded plastics products. It provides standard and specialty parts and components to manufacturers and end-users for a broad range of custom applications, including the specialty industrial, fluid-handling, lighting, traffic safety, fence, and electrical insulation industries. Pexco offers a full range of custom design, engineering and fabrication services, including ISO 9001:2015 registration, across its manufacturing operations. For more information, visit www.pexco.com or contact 770-777-8540.
About Performance Elastomers Corporation
Performance Elastomers Corporation is a custom provider of rubber, silicone, and thermoplastic elastomer products, offering an extensive array of secondary processes as well as in-house tool and die capabilities. The company is well known for their decades of providing uncompromising quality and exceptional solutions to a wide range of markets, featuring applications for industrial, architectural, and recreational use.
About AEA Investors LP
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 100 investment professionals operate globally with offices in New York, Connecticut, San Francisco, London, Munich and Shanghai. The firm manages funds that have over $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies, growth capital and mezzanine and senior debt investments. The AEA Small Business Funds is a strategy within AEA that currently manages $1.9 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with proven management teams and superior business models.
Contacts
Pexco LLC
www.pexco.com
Scott Mattice
Business Development/M&A Manager
770-777-8549
