Last week, private equity firm MPE Partners announced a deal to acquire a North Carolina plastics manufacturer and add its operations to the Plastic Components Inc. (PCI) subsidiary.
MPE officials said the deal for Syracuse Plastics of North Carolina would bolster PCI’s solutions in press tonnage, value-added services, and short-lot processing.
Syracuse Plastics, based in Cary, North Carolina, produces engineered and precision-injection molded components for manufacturers as well as telecommunications, energy, and food processing companies. Terms of the agreement were not disclosed.
"SPNC is an outstanding first acquisition for PCI as it addresses each of our areas of strategic focus for PCI’s inorganic growth in terms of expanding geography, technology, and markets,” MPE partner Matt Yohe said in a statement.
Tom Falcone, the former owner and CEO of Syracuse, added that PCI would add new capabilities — as well as MPE’s capital resources — to the company’s current operations.
MPE, which focuses on small, privately owned companies in the high-value manufacturing, commercial, and industrial services sectors, acquired suburban Milwaukee-based PCI in 2017.