Spectrum Plastics Group has acquired Apex Resource Technologies, a provider of specialty plastics for the medical device industry. No financial terms were disclosed. Spectrum Plastics Group is owned by AEA Investors.
ALPHARETTA, Ga.–(BUSINESS WIRE)–Spectrum Plastics Group, a market leading medical extruder with complementary injection molding, silicone, and assembly capabilities, today announces that it has acquired Apex Resource Technologies, Inc. Apex is a full-service design engineering, tooling, and injection molding operation focused on high performance, specialty plastics for the medical device industry. The company employs over 60 people and operates out of a 45,000 square foot facility in Pittsfield, Massachusetts.
Neil Shillingford, Spectrum Plastics CEO, remarks, “Apex has all the elements we are looking for as we evolve our business to the next level. Great customer relationships, strong engineering and design capabilities, a focus on performance plastics suitable to invasive medical applications, and a solid operating culture that fits our core values.”
Don Rochelo, founder and President of Apex Resource Technologies, remarks, “This is a great day for Apex and we are pleased to be aligned with Spectrum Plastics. The two companies complement one another very well, and we are thrilled to have found such a partner to carry Apex forward in the years to come.”
Spectrum Plastics Group itself was recently acquired by AEA Investors, the global private equity group. This event marks its first acquisition under AEA. Shillingford comments, “We plan to continue pursuing acquisitions that fit our core objectives, to provide specialty plastic solutions on behalf of the medical device industry and our customers.”
About Spectrum Plastics Group
Based in Alpharetta, Georgia with multiple plants across the United States, Mexico, Costa Rica, Ireland, and Malaysia, Spectrum Plastics Group is a North American leader in the design and fabrication of custom and specialty plastics products focusing on niche, high value-added end markets, including medical, food, and industrial applications. Spectrum offers a full range of custom design, engineering and fabrication services, as well as meet the requirements of ISO 9001, ISO 13485, and operates multiple Class 7 & Class 8 clean rooms. For more information, visit www.spgindustries.com, www.spectrumplastics.com or contact 404-564-8560.
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’s active individual investors (the “Participants”) include an extraordinary network of more than 75 of the world’s leading industrial families, business executives and former government leaders. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $10.0 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments.