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AEP Industries Inc. announced that it has closed its acquisition of substantially all of the assets of the Plastic Films segment of Atlantis Plastics, Inc. You will be re-directed to AEP Industries Inc. website (www.aepinc.com). Over the course of the next several weeks, the combined management teams of AEP and Atlantis will be working together to solidify this transformation of our business for the maximum benefit of our customers.
Atlantis’ Linear Stretch Films business will become part of AEP’s Stretch Film operations. A large part of Atlantis’ Custom Films division will be folded into AEP’s PROformance Films operations with the balance being transitioned in to AEP’s Custom Films Division, which will focus on highly engineered specialty high-performance mono and coextruded products. In addition, the Atlantis Plastics Films institutional products division will be folded into AEP’s
institutional products division. The combinations of these groups will
provide unmatched capabilities in the industry and exponential
improvement in the individual product offerings.
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Monomoy Capital Partners, L.P., a New York private equity fund that makes controlling investments in middle market companies, announced that it received final bankruptcy court approval to acquire the molded products group of Atlantis Plastics, Inc.
The Atlantis molded products group is a manufacturer of custom plastic components for the appliance, recreational vehicle, building products and automotive industries. The business employs more than 800 associates and it operates extrusion molding facilities in Elkhart, Indiana and injection molding facilities in Ft. Smith, Arkansas; Henderson, Kentucky; Jackson, Tennessee; LaVergne, Tennessee; Alamo, Texas and Elkhart, Indiana and. The division’s largest customer is Whirlpool, Inc., the leading manufacturer of home appliances in North America.
Monomoy has combined the Atlantis molded product group with its recent acquisition of L&P Plastics from Leggett & Platt (NYSE: LEG) to form Fortis Plastics, LLC, a diversified custom molding business for the appliance, furniture, building products and medical device industries.
A new website, FortisPlasticsGroup, will be developed over the next several weeks.
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