Broadens Offering with New Multi-Wall Sheet Production Capabilities and Significantly Expands Presence in Europe and South America
COLUMBUS, Ohio, October 14, 2021--(BUSINESS WIRE)--Plaskolite LLC ("Plaskolite"), North America’s largest manufacturer of engineering thermoplastic sheet and profile products, today announced that it has signed a definitive agreement to acquire substantially all of the assets of Plazit-Polygal, an international pioneer in the design, development and manufacturing of engineering thermoplastic sheets. Plaskolite will acquire Plazit-Polygal's operations and assets in North America, South America and Europe, with the exception of Plazit-Polygal's Russian operations. Upon close of the transaction, Plazit-Polygal’s Israel headquarters will serve as Plaskolite’s EMEA headquarters.
Headquartered in Kibbutz Gazit, Israel, Plazit-Polygal manufactures an extensive and highly customized offering of engineering thermoplastic products, including acrylic and polycarbonate solid sheets as well as multi-wall and corrugated sheets. With this acquisition, Plaskolite will expand its geographic footprint in North America, Europe and South America. Plaskolite will broaden its offering with new multi-wall sheet production capabilities, and the Company’s added scale and international reach will enhance its ability to serve a growing customer base.
"This transformative acquisition will significantly expand Plaskolite’s global reach and strengthen the high-quality offering we provide our customers," said Ryan Schroeder, Plaskolite President and CEO. "For more than 70 years, Plaskolite has led our industry focused on customer service, product quality and innovation. The addition of Plazit-Polygal’s talented team and dynamic production capabilities will help us extend our leadership position as we serve a growing base of customers. I am delighted to welcome Amir and everyone at Plazit-Polygal to the Plaskolite family."
"Plaskolite is the ideal long-term partner to support our business through its next phase of growth and expansion," said Amir Abramovich, Group CEO of Plazit-Polygal. "Our companies share a strong commitment to product excellence, customer satisfaction and a culture built on collaboration. I am confident that together we will be even better able to serve our customers with the highest quality plastic sheet products and innovations."
"We are thrilled to welcome Plazit-Polygal as a partner to Plaskolite as we expand our business-building efforts to Israel and the other geographies served by the combined company," said Tony Pritzker, Chairman and Chief Executive Officer of Pritzker Private Capital. "When my father, Donald Pritzker, founded Hyatt Hotels, he grew a chain of six hotels into one of the world’s largest hotel operators. All of us at Pritzker Private Capital continue to honor the Pritzker legacy by partnering with growth-focused companies to build strong businesses for the long term."
Thomas Chadwick, Principal at Pritzker Private Capital, added, "This strategic acquisition represents a compelling opportunity for Plaskolite to accelerate its long-term growth, expand into new markets and further enhance its innovation. We are pleased to continue our partnership with Plaskolite as the company strengthens its position as a global leader in the manufacturing of engineering thermoplastic products."
The transaction is subject to regulatory approval and customary closing conditions and is expected to close in December 2021.
About Plaskolite, LLC
Founded in 1950 in Columbus, Ohio, by Donald G. Dunn and family, Plaskolite, LLC is the leading North American manufacturer of engineering thermoplastic products. Plaskolite is owned by Pritzker Private Capital along with the Dunn family, management and other co-investors. Plaskolite’s customized products are used in a wide variety of applications, including windows, doors, lighting, signs, point-of-purchase displays, transportation, security and bath products. Plaskolite serves a diverse customer base including distributors, OEMs and retailers. For more information, please visit https://plaskolite.com/.
Plazit-Polygal is a world leader in the design, development and manufacturing of engineering thermoplastic sheets and profiles. Its products are used worldwide in a broad range of markets and applications, with a particular focus the architectural and agricultural sectors. Utilizing its cutting-edge technology and manufacturing capabilities, Plazit-Polygal provides optimal performance and solutions for walkways, canopies, pool coverings, skylights, roof systems, clerestories, commercial and residential greenhouses, interior design, P-O-P displays, signage, window glazing and more. Plazit-Polygal is headquartered in Kibbutz Gazit, Israel, with manufacturing facilities in six other countries in North America, Europe and South America. For more information, visit https://plazit-polygal.com/en/.
About Pritzker Private Capital
Pritzker Private Capital partners with middle-market companies based in North America with leading positions in the manufactured products, services and healthcare sectors. The firm's differentiated, long-duration capital base allows for efficient decision-making, broad flexibility with transaction structure and investment horizon, and alignment with all stakeholders. Pritzker Private Capital builds businesses for the long term and is an ideal partner for entrepreneur- and family-owned companies. Pritzker Private Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). For more information, visit PPCPartners.com.
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