Westfall Technik acquires Carolina Precision Plastics, enters Southeast US, China markets
Las Vegas-based injection molding and tooling firm Westfall Technik Inc. has acquired injection molder Carolina Precision Plastics LLC and its wholly owned subsidiaries, the company announced July 1.
The deal gives Westfall plants in China and the southeastern U.S., including facilities in Kaiping, China, and Mocksville and Asheboro, N.C.
In total, CPP's three plants cover some 335,000 square feet of manufacturing space.
"This provides a further supply-chain advantage to Westfall when it comes to serving key customers in both the packaging and health care sectors," Merritt Williams, chief commercial officer at Westfall, said in a news release. "CPP's North Carolina plants are ideally located to serve the multitude of brand owners with a manufacturing presence in the surrounding area."
The terms of the deal were not disclosed.
CPP runs about 100 injection molding machines in its three facilities. The deal also "brings expertise in vital secondary services, such as high-volume, fully automated assembly and sophisticated decorating capabilities," the release said.
Carolina Precision Plastics, which does business as CPP Global, was the No. 99 injection molder in Plastics News' recent ranking, with estimated North American molding sales of $70 million.
The injection molder, which uses recycled resins and biopolymers in its products, also operates a collaborative design center and "has a strong sustainability profile," it said.
"I'm thrilled to combine our strengths with the breadth and depth of Westfall's capabilities to enhance our ability to provide our employees, customers and other stakeholders with more opportunities to grow together," CPP CEO Brian Tauber said in the release.
"CPP Global is a valued packaging supplier to several leading personal care and beauty companies, such as L'Oréal (serving their L'Oréal Paris and Kiehl's brands), Estée Lauder and Burt's Bees, among others," Mark Gomulka, Westfall's chief operating officer, said.
"This is just the next step in creating a truly world-class molding and tooling business that is built on a strong culture and unquestionable customer service," Westfall CEO and founder Brian Jones said.
Jones and Williams told Plastics News in January that the company was prepared to make acquisitions in 2021, including overseas. The company made 14 acquisitions between October 2017 and April 2019, and it spent 2020 integrating those businesses.
"You'll see us continue to add capabilities and geographies, and you'll see us to go back on the acquisition trail. But I think it's going to be extremely strategic and it is going to be steeped in capability. We're not interested in just buying up revenue," Williams said at the time.
Plastics News listed Westfall as a united company for the first time in its recent ranking. The company ranked No. 47 with sales of $200 million.