USA – One Equity Partners-backed contract manufacturer Clayens Group has agreed to acquire plastics processor Parkway Products LLC, expanding its operations to North America.
The middle-market private equity firm, which has been a financial backer of Clayens since last year, also announced the completion of a carve-out of the Crystal Lake, IL, injection molding plant and the transfer of in-house operations from a global healthcare corporation to Clayens.
The firm did not disclose the terms of the transaction which is subject to satisfaction of customary closing conditions.
Based in Genas, France, the Clayens Group is specialized in processing polymer, composite, and precision metal parts for customers in a range of industries, including automotive, healthcare, building and construction, and consumer goods.
The firm operates production facilities in Europe, North Africa, Mexico, and now in the United States, presuming closing conditions are met.
Meanwhile, Parkway produces precision plastic components for the industrial, aerospace and defense, agriculture, transportation, and healthcare sectors.
The company employs over 750 dedicated employees in nine facilities throughout the United States and Mexico.
Parkway provides customers with a single source for precision-molded products requiring both high-performance and advanced materials.
Clayen’s Crystal Lake manufacturing business includes a fully equipped 473,000-square-foot facility with a cleanroom.
There is significant capacity for growth, said OEP in its announcement, adding that operations in the facility currently involve producing plastic-based products for the medical sector, including medical waste containers and syringes.
Konstantin Ryzhkov, managing director at OEP said: “These transactions are the result of strategic growth initiatives identified as part of our investment in Clayens in December 2022, proving OEP’s assessment of the company as a solid investment platform.
“The Parkway and Crystal Lake acquisitions give Clayens strategic scale in North America and further diversify its customer base and technical capabilities.”
Commenting on the deal, Eric Pisani, Clayens CEO noted: “The acquisition of Parkway Products creates synergies that enable first-class production of high-performance polymers, composites, and precision metals that enhance both companies’ technical expertise and overall client reach.
“The purchase of the Crystal Lake facility helps achieve our strategic goal of boosting our healthcare capabilities by expanding manufacturing capacity in the United States.”
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