Bloomer Plastics, which is owned by private equity firm Huron Capital Partners, has acquired Ohio-based high barrier coextruded blown films manufacturer, Optimum Plastics
The company said that the acquisition was directly aligned with its fundamental strategies and the combination of the portfolios of both the companies will help Bloomer nearly double its revenue and employee base.
Speaking about the strategic alliance, Huron Capital vice president Matt Hare said: "Optimum is a great fit with Bloomer, and this acquisition is right in line with Huron's buy-and-build strategy of partnering with strong management teams and investing for growth."
Bloomer Plastics CEO and President Kevin Keneally said: "We're proud to welcome Optimum into the Bloomer Plastics family. Bob Clemons and his team have assembled the finest set of multi-layer high barrier film assets in the stand-alone film market.
"Their leadership position in custom engineered nine-layer nylon coextrusions is unmatched. We look forward to continuing their investment in state-of-the-art technologies."
Keneally also added that the move increased the workforce of Bloomer Plastics' to more than 140 employees, with more than half of that number at the orginal location in Bloomer. The acquisition will further result in additional jobs over time.
Founded in 1971 by Don West, Bloomer Plastics currently manufactures custom converted and embossed film for high performance industrial, medical, automotive and consumer market segments. Following its success since the commencement of its operations, the company has opened an 80,000-square-foot manufacturing facility in Bloomer.
