Monomoy Capital Partners LP has integrated the company into Fortis Plastics LLC, a US$200 million plastic injection moulding and extrusion platform formed by Monomoy in 2008. Global Thermoplastics is involved in the wholesale manufacture, blending and distribution of high-engineered resin materials used to manufacture plastic products. The company recently built a compounding facility in the Port of Houston, USA and currently produces around 13.6 million kg (30 million pounds) of engineered resin compounds a year.
Fortis Plastics says that the acquisition will enable it to blend a larger portion of its resin compounds internally, reducing raw material costs and supplying with a wider range of material choices. “The Global acquisition enables Fortis to provide a single point of supply for customized compounding, tool making, moulding and extrusion,” said Joseph Mallak, chief executive officer of Fortis. The Global transaction marks the fourth Monomoy acquisition for its Fortis Plastics platform over the past eight months. In summer 2008, Monomoy created Fortis through the acquisition and merger of the custom moulding divisions of Leggett & Platt Inc and Atlantis Plastics Inc and in February 2009, Monomoy acquired the Ramos, Mexico operations of Moll Industries Inc. for the Fortis platform. Fortis currently operates ten facilities in the United States and Mexico that supply injection moulded and profile extruded plastic components to the appliance, medical device, furniture and power tool industry.