Revere Plastics Systems, LLC, a manufacturer of highly-engineered plastic injection molded parts and assemblies, has acquired the Auburn, Alabama and Ankeny, Iowa facilities of Techniplas, LLC. The acquisition grows Revere's manufacturing footprint from five to seven locations throughout North America. Revere purchased the assets through the Techniplas 363 bankruptcy sale process.
The acquired facilities focus on plastic injection molding including gas assist and two-shot molding. They also have a variety of secondary operations such as vibration and ultrasonic welding as well as various automated and cellular assembly capabilities. The Auburn plant has presses ranging from 110 to 1,500 tons, and the Ankeny plant has presses ranging from 85 to 3,000 tons.
"This acquisition gives Revere a valuable footprint in the Southeast and Midwest markets, especially as we continue to diversify our products and end-markets," states Revere CEO Glen Fish. "This acquisition also provides us with a presence in two regions where we already have demand from existing customers. To be able to expand and continue to satisfy our current customer base, in these chaotic times, is an achievement we can all be proud of."
The expertise and equipment gained through the transaction will enable Revere to immediately grow its presence in the automotive, outdoor power equipment, medical, HVAC and other end-markets. Revere plans to operate the new plants as Revere facilities, with the equipment, workforce and infrastructure remaining in place. "We're a very community-oriented company," explains Fish. "We're looking forward to getting operations up and running as soon as possible."
In addition to the two new plants, Revere has operations in Clyde, Ohio; Jeffersonville, Indiana; Fraser, Michigan; Poplar Bluff, Missouri and Brampton, Ontario, employing over 1,000 people in total.
Finalizing the acquisition was complicated by the coronavirus pandemic. All meetings were performed with video conferencing or conference calls, and traveling to the facilities had to be conducted with utmost care. "Even under regular circumstances it would have been difficult, because of the timing of the bankruptcy," explains Doug Drummond, Revere's Vice President of Sales and Marketing. "The pandemic added another dimension. Our team really pulled it together and made it happen."
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