NV-WESTFALL-TECHNIK
2.7.2021 20:24:05 CEST | Business Wire | Press release
Westfall Technik, Inc. (“Westfall”, the “Company”), a global holding company that provides superior manufacturing solutions for the production of plastic parts in the medical, packaging, and consumer goods industries, announced today the acquisition of Carolina Precision Plastics, LLC (d/b/a “CPP Global” or “CPP”) and its wholly owned subsidiaries.
The deal greatly strengthens Westfall’s geographic footprint by adding its first plants in the southeastern United States, specifically in Mocksville and Asheboro, NC, as well in Kaiping, China, in Guangdong Province. “This provides a further supply-chain advantage to Westfall when it comes to serving key customers in both the packaging and healthcare sectors,” said Merritt Williams, the firm’s Chief Commercial Officer. “CPP’s North Carolina plants are ideally located to serve the multitude of brand owners with a manufacturing presence in the surrounding area.”
CPP, which runs about 100 injection molding machines in its three facilities, also brings expertise in vital secondary services, such as high-volume, fully automated assembly and sophisticated decorating capabilities. In total, CPP’s three plants cover some 335,000 square feet of manufacturing space.
“This is just the next step in creating a truly world-class molding and tooling business that is built on a strong culture and unquestionable customer service,” according to Westfall CEO and founder Brian Jones.
A leader in North America in the injection molding of heavy-wall PET jars, CPP also operates an innovative, collaborative design center and has a strong sustainability profile. The firm is a significant user of recycled resins and biopolymers in its products.
“This highly strategic, synergistic deal greatly strengthens our presence in the fast-moving consumer goods segment,” said Mark Gomulka, Westfall’s Chief Operating Officer. “CPP Global is a valued packaging supplier to several leading personal care and beauty companies, such as L’Oréal (serving their L’Oréal Paris and Kiehl’s brands), Estée Lauder, and Burt’s Bees, among others.”
For CPP Chief Executive Officer Brian Tauber, the partnership with Westfall offers a clear path forward for continuing the upward growth trend that CPP Global is experiencing right now. “I’m thrilled to combine our strengths with the breadth and depth of Westfall’s capabilities to enhance our ability to provide our employees, customers, and other stakeholders with more opportunities to grow together,” said Tauber.
The terms of the investment were not disclosed. Westfall was represented by Morrison Cohen LLP as legal counsel. CPP Global was represented by Sheppard, Mullin, Richter & Hampton LLP as legal counsel and Stifel as financial advisor.
About Carolina Precision Plastics, LLC
Carolina Precision Plastics is a global plastic injection molder in the beauty care, cosmetics, beverage and consumer goods markets, providing its customers molding, assembly and decorating capabilities built on a foundation of an industry-leading lean culture. Its global manufacturing presence and commitment to a more sustainable packaging future afford customers the most efficient and environmentally responsible options for their packaging needs. Central to its Lean North Stars, CPP’s journey focuses on providing value to its customers and ensuring a safe, satisfying work environment to its entire team. For more, visit www.cppglobal.com .
About Westfall Technik, Inc.
Westfall Technik is a global holding company that provides highly productive plastics manufacturing solutions to the medical, consumer packaging and consumer goods industries. Since its founding in Las Vegas in October 2017, the company has acquired or launched at least 19 businesses across North America. Westfall Technik’s competitive advantages include modern automated systems, correlative molding processes, and effective industry 4.0 concepts. Brand owners can expect high quality products at an excellent value, a fast response for decreased time-to-market, 100% inspection and traceability from pellet to pallet, supply-chain security compliance, and reliability from a trustworthy team. For more, visit www.westfall-technik.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210702005408/en/
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