Nickolas Asset Management Acquires Associated Plastics Corporation

Strategic Acquisition Furthers Company's Growing Manufacturing and Economic Footprint in Home State of Ohio

SARASOTA, Fla., March 3, 2026 /PRNewswire/ -- Nickolas Asset Management (NAM), together with the Reinhart Family of Companies, announced today the acquisition of Associated Plastics Corporation (APC), a plastics manufacturing company based in Ada, Ohio.

The acquisition includes APC's 150,000-square-foot manufacturing and warehouse campus, a wide range of molding and production equipment and the supporting infrastructure required to operate a large-scale manufacturing facility. The transaction expands NAM's footprint in Ohio to five manufacturing facilities and four distribution centers, representing more than one million square feet in the local region. This investment reinforces NAM's focus on asset- and infrastructure-heavy manufacturing.

Associated Plastics has operated for more than 40 years, serving customers across automotive, electrical, food processing, sports, toys and horticulture markets. The company maintains ISO 9001:2015 certification and is known for consistent quality, reliability and execution.

"The landscape of small and mid-sized manufacturing, especially in plastics, is changing," said Nickolas Reinhart, Founder of Nickolas Asset Management. "Many of these businesses are family-owned, and a lot of owners are at the end of their careers without a real succession plan. They have great products, great people and deep roots, but often lack the systems, resources or capital to compete at the next level."

NAM invests with a long-term ownership mindset, focusing on manufacturing businesses where physical assets, infrastructure and operational discipline are the primary drivers of durable value. The firm concentrates on manufacturing and proprietary products serving big-box and mass-retail customers, as well as B2B markets, across plastics and other industrial processes that require meaningful capital investment, technical execution and long operating horizons.

"Traditional private equity treats these companies as short-term financial assets, often breaking legacies instead of strengthening them," Reinhart continued. "We take a different approach. With our people, processes and capital, we can modernize and professionalize a business almost immediately. We invest in asset- and infrastructure-heavy manufacturing — real facilities, equipment, power, water and people — and we bring the capital required to upgrade asset bases that are simply aged out, so these businesses can operate at the level the market now demands."

A core component of NAM's operating approach is its shared services model. When partnering with or acquiring a business, NAM's shared services modernize the business so it can scale responsibly. NAM provides professional finance, engineering, automation, sales, marketing, systems and executive leadership, giving operating teams immediate structure and support while preserving what makes the business work.

"Our role is to strengthen the operation, not change its identity," Reinhart added. "We bring leadership, systems, execution capability and capital so manufacturing teams can stay focused on running the business while we elevate the platform."

The acquisition was led by Joe Klein, Chief Operating Officer of Nickolas Asset Management, who oversaw diligence, transaction execution and integration planning. Klein continues to lead NAM's operational expansion strategy, ensuring newly acquired businesses are integrated quickly and positioned for long-term performance.

NAM selected Associated Plastics deliberately due to the structural advantages of its Ohio location, including reliable power, water access, heavy-lift capability, logistics connectivity and a skilled manufacturing workforce.

NAM plans to invest in automation and AI-enabled manufacturing systems across production, quality, maintenance, and logistics, alongside targeted capital investments to modernize facilities and equipment. These investments are intended to improve safety, consistency, efficiency, and throughput while supporting skilled manufacturing jobs.

Associated Plastics will continue operating from its existing campus, with NAM committing long-term capital to asset upgrades, modernization, systems and operational improvement. The acquisition marks NAM's second transaction of 2026 and aligns with its strategy of building durable, infrastructure-driven manufacturing businesses.

About Nickolas Asset Management
Nickolas Asset Management (NAM) is an evergreen, operator-led family office built on permanent capital and a long-term ownership philosophy. NAM partners with management teams to strengthen essential businesses by investing in people, improving processes, and building better products.

Through a disciplined shared services platform—including HR, engineering, operations, finance, marketing, technology, and automation—NAM helps companies modernize, scale responsibly, and operate with durability. NAM is focused on execution, resilience, and long-term stewardship, with the intent to own and build businesses for generations.

To learn more about Nickolas Asset Management, click here.

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SOURCE Nickolas Asset Management