Plaskolite to acquire Plazit-Polygal
Columbus, Ohio-based Plaskolite LLC, a manufacturer of engineering thermoplastic, announced it has signed an agreement to acquire substantially all the assets of Plazit-Polygal, based in Israel.
Plaskolite will acquire Plazit-Polygal’s operations and assets in North America, South America and Europe, except for Plazit-Polygal’s Russian operations. The transaction is expected to finalize in December, subject to regulatory approval and customary closing conditions.
“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.
Plazit-Polygal is an international pioneer in the design, development and manufacturing of engineering thermoplastic sheets. With this acquisition, Plaskolite indicated, it will expand its offering with new multi-wall sheet production capabilities.
“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,” said Schroeder.
Amir Abramovich, Group CEO of Plazit-Polygal indicated that “Plaskolite is the ideal long-term partner to support our business through its next phase of growth and expansion. Our companies share a strong commitment to product excellence, customer satisfaction and a culture built on collaboration.”
Founded in 1950, by Donald G. Dunn and family, Plaskolite is owned by Pritzker Private Capital along with the Dunn family, management, and other co-investors.
“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 CEO of Pritzker Private Capital.
“I am delighted to welcome Amir and everyone at Plazit-Polygal to the Plaskolite family,” added CEO Schroeder.