(South Bend, Indiana) – Fortis Plastics has added Texas-based Global Thermoplastics - a manufacturer of engineered compounds for plastic molding applications - to its portfolio.
Fortis' parent company Monomoy Capital Partners says it signed the deal to acquire Global, which recently built a facility in the Port of Houston. Terms of the agreement were not disclosed.
Global produces about 30 million pounds of highly-engineered resin compounds per year, according to a news release.
“The Global acquisition enables Fortis to provide a single point of supply for customized compounding, tool making, molding and extrusion,” said Joseph Mallak, chief executive officer of Fortis, in a statement. “Together with our regionalized customer service model, Fortis is now uniquely positioned to provide our customers with cost-efficient, high-quality solutions for all of their plastic component requirements.”
The deal marks the fourth Monomoy acquisition for its Fortis Plastics venture over the past eight months.
In the summer of 2008, Monomoy created Fortis through the acquisition and merger of the custom molding divisions of Leggett & Platt and Atlantis Plastics. In February of 2009, Monomoy acquired the Ramos, Mexico operations of Moll Industries for Fortis and decided to locate the Fortis headquarters in South Bend.
Fortis currently operates ten facilities in the United States and Mexico that supply injection molded and profile extruded plastic components to the appliance, medical device, furniture and power tool industry. Monomoy Capital Partners, L.P. is a $280 million private equity fund that makes controlling investments in middle market companies.
For more information about Monomoy visit http://www.mcpfunds.com/
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