Published in Breaking News

Texas PE firm acquires Total Plastics of Kalamazoo

BY MiBiz Staff Thursday, March 17, 2016 03:04pm

KALAMAZOO — Total Plastics Inc. (TPI) was acquired by Prophet Equity, a Dallas-based private equity firm, on March 15.

The manufacturer and distributor of plastic sheet, rod, tube, film and tape was sold as part of its parent organization’s, Chicago-based A.M. Castle & Co. debt restructuring plan, according to a statement.

“Our decision to sell Total Plastics, Inc. is the right one for both entities,” said Steve Scheinkman, CEO of A.M. Castle, in a March 15 statement. “It allows Castle to focus on our core metals business and Total Plastics, Inc. to pursue its own strategic objectives.”

Read 1628 times Last modified on Friday, 18 March 2016 22:33
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