Plaskolite Buys Lucite’s Acrylic Sheet
North America’s largest manufacturer of acrylic sheet products, Plaskolite, is acquiring Lucite’s continuous cast acrylic sheet business, which comprises general-purpose sheet and sanitary ware spa and bath sheet. Financial terms were not disclosed.
The deal includes a manufacturing plant in Memphis, Tennessee, adding to Plaskolite’s other facilities in Columbus and Zanesville in Ohio; Grand Saline, Texas; Compton, California; Olive Branch, Mississippi; and Monterrey, Mexico.
Plaskolite’s president and CEO, Mitchell Grindley, said the company’s goal is to be the industry leader while also strengthening its market position. He commented: “With this acquisition we have taken another step forward in our leadership position while building on our long-term commitment to our American workforce and facilities.”
The companies have worked together for the past 40 years, with Plaskolite being Lucite’s largest North American buyer of acrylic monomers. In 2007, Plaskolite bought Lucite’s continuously processed acrylic sheet division, when it gained the plants in Mississippi and Mexico.
Private equity investor Charlesbank Capital Partners took a controlling interest in Plaskolite in November 2017, the first outside investor in the family-owned company.
