Mold-Rite Plastics, a manufacturer of rigid plastic packaging products, has acquired Stull Technologies, a New Jersey-based manufacturer of dispensing closures, caps, lids, and packaging components. Mold-Rite Plastics is owned by private equity firm Irving Place Capital.
Mold-Rite Plastics – a leading manufacturer of rigid plastic packaging products – has acquired Stull Technologies, a New Jersey-based manufacturer of dispensing closures, caps, lids, and packaging components. The acquisition serves to broaden Mold-Rite Plastics’ product line, geographic reach and manufacturing capabilities while adding talented personnel to its organization.
A well-established, family-owned company, Stull Technologies has a reputation within the packaging industry for innovative caps and closures. Mold-Rite Plastics, which is owned by private equity firm Irving Place Capital, will retain the Stull name to leverage the substantial brand equity that the company has built over decades of service to the market.
For Mold-Rite, the acquisition of Stull is part of a larger expansion plan that includes both organic growth and acquisitions, and builds upon the company’s standards of providing customers with reliability, superior responsiveness and innovation. New product launches such as the recently introduced EZ-Safe and EZ Grip line of closures – a range of ergonomically ribbed closures designed to enhance shelf impact and customer comfort – is one such example. The company seeks to expand this model through continued capital investment and strategic acquisitions.
“Combining Stull Technologies with the Mold-Rite Plastics family is another example of our commitment to superior service, flexibility and overall customer-focused value,” said Brian Bauerbach, President and CEO of Mold-Rite Plastics. “We are very excited to work with the outstanding people at Stull to continue our mission of enhancing our customers’ products through superior packaging solutions,” said Bauerbach.
“Joining forces with Mold-Rite Plastics will further improve the high quality of products, services, and overall value that Stull brings to its customers,” said Jason Stull, EVP Sales & Marketing of Stull Technologies. “We are confident that combining our organization with Mold-Rite Plastics’ resources will enhance Stull’s strengths and our commitment to delivering market-leading innovation and exceptional customer service.”
P&M Corporate Finance served as financial advisor to Stull Technologies.
About Mold-Rite Plastics
Headquartered in Plattsburgh, NY, Mold-Rite Plastics is a leading manufacturer of rigid plastic packaging products, serving a wide variety of markets around the world. The company’s product lines include a wide variety of caps and closures, a full line of jars and a variety of specialty items. In addition to its conventional catalogue of products, Mold-Rite’s full in-house tool building capabilities allow the company to develop unique customer-specific packaging items.
Founded in 1976, Mold-Rite has grown from a handful of injection molding machines into a full service manufacturer with capabilities in molding, lining and product decoration.
About Stull Technologies
Stull Technologies, located in Somerset, NJ, is a worldwide leader in design, development, and manufacturing of innovative dispensing closures, caps, lids, and packaging components. Stull works with its customers on every phase of projects, from conception to mass production. Its experienced team provides ongoing support that combines cutting edge packaging solutions with improved speed-to-market.
Irving Place Capital invests private equity capital in buyouts, recapitalizations and growth capital opportunities alongside superior management teams. Since its formation in 1997, Irving Place Capital has been an investor in more than 50 companies and has raised over $4 billion of equity capital, including its current $2.7 billion institutional fund.
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