By Michael Lauzon
CORRESPONDENT
Published: October 21, 2014 2:57 pm ET
Updated: October 21, 2014 2:58 pm ET
Image By: Bloomer Plastics Inc.
Kevin Keneally
A Midwest U.S. acquisition has created a company armed with two distinct film technologies: cast films and coextruded blown film constructions.
Bloomer Plastics Inc. said Oct. 20 that it bought Optimum Plastics, a move that nearly doubles Bloomer’s sales and employment. It did not release terms of the deal.
Bloomer, based in Bloomer, Wis., specializes in custom engineered cast embossed films for industrial, medical and packaging markets. Optimum of Delaware, Ohio, is a leading extruder of high-barrier coextruded blown film. Each business will continue to focus on its specialties and the sales teams will be integrated to call on a common customer base. Overall, their markets also will include automotive, medical, hygiene, construction, aerospace and consumer.
“We are uniquely positioned to run 100 percent nylon cast embossed [film] in addition to nine-layer blown nylon,” Bloomer President and CEO Kevin Keneally said in an email correspondence. “PVC replacement will continue to be a key focus area.”
The combined business encompasses 16 film lines, about double what Bloomer had been running. Bloomer had sales of $47 million and 64 employees in 2013, according to Plastics News’ survey of North American film and sheet manufacturers. Both parties’ plants will remain open, Keneally said.
“[Optimum’s] leadership position in custom engineered nine-layer nylon coextrusions is unmatched,” Keneally said in a news release. “We look forward to continuing their investment in state-of-the-art technologies for our mutual valued customers.”
Bloomer in spring completed a multi-million dollar expansion program that included installation of a new cast film line. The extra line and debottlenecking lifted film production capacity by about 25 percent.
Bloomer bought Optimum from Optimum President and CEO Robert Clemons and Optimum management. Clemons gets a position on Bloomer’s board of directors.
“After 20 years of successful business operations, we are convinced that a merger with Bloomer will carry new opportunities for our employees, customers and partners,” Clemons noted in a news release.
Optimum is owned by management and Huron Capital Partners.
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