HANOVER, Pa., May 9, 2017 /PRNewswire/ -- McClarin Plastics, a premier manufacturer of highly engineered thermoformed plastic, fiberglass reinforced plastic, composite products and complex assemblies today announced its investment in Oklahoma City, Okla.-based Custom Composites, a niche manufacturer of polypropylene and composite fiberglass products including tanks, grating, fire apparatus and custom parts. Together, McClarin and Custom Composites will continue to supply innovative composite products to the industrial equipment, construction, rail, transportation, energy, agricultural and medical industries.
With the addition of Custom Composites, McClarin is even now better positioned to serve the Central and Southwest United States. This acquisition represents the next evolution of McClarin Plastics as it continues to experience significant growth. The move adds significant strategy value to the company, which already maintains facilities in the Pacific Northwest, Northeast, and Southeast United States.
"The opportunity to expand operations to serve Oklahoma and surrounding states is a tremendous benefit to McClarin Plastics, and more importantly, our customers," said Jerry Armstrong, CEO of McClarin Plastics. "We've experienced continued demand for our highly engineered products and this is the next step in improving our delivery and production capabilities in that area. Through the acquisition of Custom Composites, McClarin will be able to hit the ground running and leverage a state-of-the-art facility and an experienced team of employees."
McClarin Plastics plans to invest additional capital into Custom Composite's new, state-of-the-art 83,000 sq. ft. production facility. McClarin will continue to service Custom Composites existing customers and plans to move additional business to the location. McClarin expects to add over 50 additional jobs at the facility over the next several years, and has earned support from the Oklahoma City council in the form of economic development incentives for doing so. McClarin partnered with MetaFund, an Oklahoma City-based socially responsible private equity firm that owned Custom Composites, to complete the deal and spark additional job growth at the facility.
The acquisition of Custom Composites marks another successful and strategic addition to McClarin Plastics. With geographic coverage of the entire United States and a variety of innovative, often custom-designed, composite manufacturing processes, McClarin has positioned itself as an industry-leader. McClarin, a portfolio company of Blackford Capital, continues to pursue add-on opportunities throughout the U.S.
About Custom Composites
Custom Composites, founded in 1972, is a niche manufacturer of polypropylene and composite fiberglass products including tanks, grating, fire apparatus and custom parts. For additional information, visit www.customcompositesok.com.
About McClarin Plastics
McClarin Plastics, Inc. is a premier contract manufacturer of large thermoformed plastic and fiberglass reinforced plastic components for industrial equipment, construction, rail, transportation, agricultural and medical applications. In 2015, the company merged with Amtech to provide more comprehensive capabilities for the military and commercial markets. The company provides production throughout North America and China, with international exports to Asia and Europe. The company is owned by Blackford Capital, a private equity firm based in Grand Rapids, Mich. For more information, visit www.mcclarinplastics.com.
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SOURCE McClarin Plastics