US-based Teknor Apex has acquired Plastic-Technologie-Service (PTS), a German custom compounder of thermoplastic elastomers (TPEs) and engineering thermoplastics (ETPs), for an undisclosed price. The transaction was completed on Mar. 31.

PTS, which has more than 100 employees, contributes a production plant at Steinsfeld, Germany, with a capacity of 20,000 t/y, as well as a technical support facility. A marketing office is also located nearby in Tauberzell.

The company has been making TPE and ETP compounds for Teknor Apex for the past year under a tolling agreement. The two firms have also enjoyed a 15-year relationship involving licensing agreements.

Teknor Apex already compounds TPEs in Genk, Belgium, and produces compounds at its other locations in the US, Singapore and China.

PTS has a diverse portfolio, including block copolymers based on a number of polymer chemistries, thermoplastic vulcanizates (TPVs) and polymer blends. Its ETPs include several types of polyamide as well as polybutylene terephthalate (PBT), PC and PC/ABS blends.

Proprietary specialties include a hard/soft technology for over-molding TPEs onto polar ETP substrates, such as nylon and acetal, and producing a durable bond. Another specialty is radiation-crosslinked grades of ETPs and TPEs.

Jonathan Fain, chairman and CEO of Teknor Apex, said the acquisition is a natural fit with the company’s strategic vision to support the market with a global footprint and local presence.

PTS, as a subsidiary of Teknor Apex, will continue to supply products under its existing brands and its managing director, Uwe Stenglin, will remain in his role.