Investment firm acquires Premix Inc.

Investment firms Highlander Partners L.P. and Capstone Capital Partners have acquired Premix Inc. and its wholly-owned subsidiary Quantum Composites Inc.

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Investment firms Highlander Partners L.P. (Dallas, Texas, USA) and Capstone Capital Partners (Cleveland, Ohio, USA) on Jan. 4 announced the acquisition of Premix Inc. (North Kingsville, Ohio) and its wholly-owned subsidiary Quantum Composites Inc. (Bay City, Mich., USA)

Premix, a developer, designer and manufacturer of thermoset composite materials and custom-molded components, will combine with another Highlander /Capstone portfolio company, Hadlock Plastics LLC (Geneva, Ohio), an experienced custom molder and finisher of high-quality engineered composite products, to build a new, vertically integrated enterprise that will offer customers a full range of engineering and manufacturing processes, from prototype through production.

Hadlock Plastics president Terry Morgan will lead the combined company as CEO, and Premix COO Tom Meola will assume an expanded role as COO for the new company, which will maintain its three existing facilities and workforce in Ohio and Michigan. The new enterprise has 430 employees and a manufacturing capacity of more than 500,000 ft2/46,452m2.

"The drive to replace traditional manufacturing materials such as metal and wood with superior-performing, corrosion-resistant, high-strength-to-weight ratio composites is creating new opportunities in a broad range of industries, including aerospace, alternative energy, medical, electrical, HVAC, transportation, defense, construction and industrial equipment," said Morgan. "Our complementary skills, technologies and manufacturing processes will broaden and deepen our capabilities, positioning us to capitalize on this growing trend."

Premix, founded in 1959, is the largest North American developer, formulator and manufacturer of thermoset compounds and custom-molded components. The company markets commercial composite materials including sheet molding compound (SMC), bulk molding compound (BMC) and thick molding compound (TMC). Premix offers compression, injection and transfer molding to customers worldwide. Quantum Composites specializes in high-performance engineered structural composites (ESC). Hadlock Plastics, established in 1968, offers multiple composite molding technologies, including compression molding, open molding, light resin transfer molding, and resin transfer molding as well as precision machining and complete finishing and assembly, along with a number of other value-added processes.