Michigan company purchases Techniplas’ Ankeny plant

BY MICHAEL CRUMB, Senior Staff Writer, Des Moines Business Record

Monday, July 6, 2020 11:24 AM

Revere Plastics Systems LLC has acquired the Ankeny facility of Techniplas LLC, with hopes of expanding its customer base and restoring the plant’s workforce, company officials said.

The acquisition was part of the Novi, Mich.-based company’s purchase of other Techniplas facilities through Techniplas’ bankruptcy sales process. Revere also purchased the Techniplas plant in Auburn, Ala., increasing its manufacturing footprint from five to seven locations. It also operates in Clyde, Ohio; Jeffersonville, Ind.; Fraser, Mich.; Poplar Bluff, Mo.; and Brampton, Ontario.

Revere employs more than 1,000 people in its manufacturing, technical and sales facilities, according to a release.

The acquired facilities will focus on plastic injection molding for the automotive, outdoor power equipment, medical, HVAC and other markets.

Revere CEO Glen Fish said in a release that the acquisition gives the company a presence where demand already exists. It will also allow the company to expand its customer base, he said.

According to the release, the new plants will be operated as Revere facilities using existing equipment, workforce and infrastructure.

“We’re a very community-oriented company,” Fish said. “We’re looking forward to getting operations up and running as soon as possible.”

Doug Drummond, Revere’s vice president of sales and marketing, said the Ankeny location fits into Revere’s plans for growth.

“Having a facility in that area, it just immediately opens up our opportunities to serve our existing customer base, but it also gives us access to other companies and industries in those geographic areas that are really attractive for Revere’s overall growth plans,” Drummond told the Business Record.

He said that he did not know the immediate employment level at the Ankeny site, but that Revere plans to keep as many employees as possible.

“Operationally, we’re doing everything we can to keep as many of the employees as we can because they are a big success of that facility,” he said.

Drummond said that while Revere acquired Techniplas’ facility, equipment and workforce, it did not acquire its customer base. He said Revere is working diligently with customers who did business with Techniplas, and said some of that business is already beginning to return.

“We are going to try to build employment levels back up as high as we can,” Drummond said. “All the infrastructure, support and operators are there right now, so it’s not a shuttered facility, for sure.”

Although Drummond could not offer a timeline, he said Revere hopes to expand its customer base and employment levels at the Ankeny facility.

“Our goal is to not only build the plant up, but find ways to add more to it,” he said. 

Techniplas, based in Nashotah, Wis., filed for Chapter 11 bankruptcy in May after a deal with a private equity firm fell through as the coronavirus pandemic tightened its grip on the nation.

According to the Milwaukee Biz Times, Techniplas had $175 million in outstanding notes that were set to mature on May 1, and more than $17 million in borrowing due under a credit agreement.

The company had 721 employees when it filed for bankruptcy. It had let go another 190 just before the filing as it began closing the Ankeny and Auburn plants. Although the company’s Wisconsin and Iowa operations saw combined increases in sales last year, the company experienced a net loss of $21 million in 2019.

Source: https://businessrecord.com/Content/Default/All-Latest-News/Article/Michigan-company-purchases-Techniplas-Ankeny-plant/-3/248/90587

Revere Plastics Systems expands footprint to Alabama, creating 120 jobs

July 09, 2020 Words by Jerry Underwood

AUBURN, Alabama — Revere Plastics Systems, a leading manufacturer of highly engineered plastic injection molded parts and assemblies, has selected Auburn to house its first operation in the Southeast. Revere will employ 120 people at its Alabama plant over the next three years.

“Revere is thrilled with the location and growth opportunity that our Auburn facility offers,” said Glen Fish, CEO of Revere. “The active transfer of new business in our first weeks of operation is already encouraging, and we are proud of the exceptional team in place that significantly advances Revere’s expansion plan.”

Revere Plastics Systems is headquartered in Novi, Michigan, and has over 50 years of experience in plastics and manufacturing. Revere’s leadership and technical expertise has earned the company a ranking as one the nation’s top 50 plastic injection molders in sales.

“With the opening of its first plant in the Southeast, Revere joins Alabama’s great family of industries that have proven to be not only leaders in their field, but also great community partners,” Governor Kay Ivey said.

“We look forward to building a durable partnership with Revere and helping them to grow in Sweet Home Alabama.”

GROWING FOOTPRINT

The addition of its Auburn operation will increase the company’s footprint to seven North American locations. Their location in Auburn will allow the company to grow its presence in the automotive, outdoor power equipment, medical, HVAC and other end-markets.

“We are pleased to welcome Revere Plastics Systems into Auburn’s industrial family,” said Auburn Mayor Ron Anders. “Their timing couldn’t be better for our community as this technology-based, value-added company prepares to provide jobs locally.”

Revere Plastics Systems will operate at 204 Enterprise Drive in the Auburn Technology Park North. Formerly under the names Weidmann and Techniplas, the facility has been used since 2004 as an injection molding operation.

“We look forward to growing new customers, localizing existing Revere business, and attracting some of Auburn’s prior business to the facility,” said CEO Fish.

Source: https://www.madeinalabama.com/2020/07/revere-plastics-systems-expands-footprint-to-alabama-creating-120-jobs/

Revere Plastics Systems Continues Expansion of Geographic Footprint With Acquisition of Two Techniplas Plants

NOVI, Mich., June 18, 2020 (Newswire.com) – Revere Plastics Systems, LLC, a leading manufacturer of highly-engineered plastic injection molded parts and assemblies, has acquired the Auburn, Alabama and Ankeny, Iowa facilities of Techniplas, LLC. The acquisition grows Revere’s manufacturing footprint from five to seven locations throughout North America. Revere purchased the assets through the Techniplas 363 bankruptcy sale process.

The acquired facilities focus on plastic injection molding including gas assist and two-shot molding. They also have a variety of secondary operations such as vibration and ultrasonic welding as well as various automated and cellular assembly capabilities. The Auburn plant has presses ranging from 110 to 1,500 tons, and the Ankeny plant has presses ranging from 85 to 3,000 tons.

“This acquisition gives Revere a valuable footprint in the Southeast and Midwest markets, especially as we continue to diversify our products and end-markets,” states Revere CEO Glen Fish. “This acquisition also provides us with a presence in two regions where we already have demand from existing customers. To be able to expand and continue to satisfy our current customer base, in these chaotic times, is an achievement we can all be proud of.”

The expertise and equipment gained through the transaction will enable Revere to immediately grow its presence in the automotive, outdoor power equipment, medical, HVAC and other end-markets. Revere plans to operate the new plants as Revere facilities, with the equipment, workforce and infrastructure remaining in place. “We’re a very community-oriented company,” explains Fish. “We’re looking forward to getting operations up and running as soon as possible.”

In addition to the two new plants, Revere has operations in Clyde, Ohio; Jeffersonville, Indiana; Fraser, Michigan; Poplar Bluff, Missouri and Brampton, Ontario, employing over 1,000 people in total.

Finalizing the acquisition was complicated by the coronavirus pandemic. All meetings were performed with video conferencing or conference calls, and traveling to the facilities had to be conducted with utmost care. “Even under regular circumstances it would have been difficult, because of the timing of the bankruptcy,” explains Doug Drummond, Revere’s Vice President of Sales and Marketing. “The pandemic added another dimension. Our team really pulled it together and made it happen.”

About Revere Plastic Systems

Revere Plastics Systems, LLC has over 50 years of experience in plastics and manufacturing. The company was founded to serve customers worldwide by applying its engineering core to improve customers’ competitive global positions. Revere has manufacturing capabilities that include value-add plastic injection molding, welding, assembly and testing. In total sales, Revere is among the nation’s top 50 plastic injection molders.

Revere employs more than 1,000 people in its manufacturing, technical and sales facilities. Headquartered in Novi, Michigan, Revere has manufacturing locations in Clyde, Ohio; Jeffersonville, Indiana; Fraser, Michigan; Poplar Bluff, Missouri; Auburn, Alabama; Ankeny, Iowa and Brampton, Ontario. For more information about Revere, visit www.rpsystems.com.

CONTACT:  Doug Drummond
VP of Sales and Marketing
(419) 547-1966
DDrummond@rpsystems.com

Source: Revere Plastics Systems, LLC

Revere Plastics buying two plants from Techniplas through bankruptcy court process

June 10, 2020

Don Loepp, Plastics News Editor

Injection molder Revere Plastics Systems Inc. is growing again through acquisition, buying two plants from Techniplas LLC, which is in voluntary restructuring.

According to court documents, Revere is paying about $2.13 million for the assets of plants in Auburn, Ala., and Ankeny, Iowa.


“We will run those as Revere facilities, rather than just taking the equipment and moving it elsewhere,” Doug Drummond, Revere’s vice president of sales and marketing, said in a telephone interview. “We are very excited about this deal, and I do like the idea of keeping these plants open, as well as our own continued growth.”

Revere, which is based in Novi, Mich., has been owned by French private equity firm Ardian since 2017. Historically a major supplier to the appliance market, Revere has been diversifying its customer base. Drummond said this acquisition will help continue that effort, plus it gives Revere a presence in two regions where it already has demand from existing customers.

“We have many customers that have facilities in the Southeast, as well as in the upper Midwest. Having plants there is something we’ve wanted for a long time,” Drummond said.

Revere has been designated the lead stalking horse bidder for the assets, and court approval is expected by June 15.

Nashotah, Wis.-based Techniplas itself is an injection molder that has grown through acquisition. It includes the former Nyloncraft LLC, with facilities in Misawaka, Ind., and Jonesvillle, Mich.; Dickten Masch Plastics LLC, with facilities in Wisconsin, Iowa and Monterrey, Mexico; and Vallotech SA in Vallorbe, Switzerland. In 2014 it doubled in size with the purchase of the Switzerland-based Plastics Technology Automotive and Industrial division of Weidmann International Corp. That deal included the 140,000- square-foot Auburn plant, which opened in 2004.

In recent years, Techniplas has been working on refinancing its debt. George Votis, Techniplas’ majority owner, founder and chairman, had arranged for financing last fall from The Jordan Co., a private investment firm based in New York. But that deal was scuttled by the COVID-19 pandemic.

Faced with $175 million in outstanding notes scheduled to mature on May 1, Techniplas led for Chapter 11 protection in U.S. Bankruptcy Court in Wilmington, Del. on May 6. Techniplas’ note holders have a stalking horse bid for the remainder of the company, which remains open.

Techniplas posted a loss of $21 million in 2019 on sales of $475 million. The company ranked No. 36 in the most recent Plastics News survey of North American injection molders.

Revere ranked in a tie for No. 39, with estimated sales of $255 million. Revere has plants in Clyde, Ohio; Jeffersonville, Ind.; Poplar Bluff, Mo.; Brampton, Ontario; and Fraser, Mich. It acquired the Fraser plant in 2018 when it bought certain operations and assets of Tier 1 automotive supplier Sur-Flo Plastics & Engineering Inc.

Prior to that acquisition, Revere had been growing its automotive business organically. Drummond said the deal with Techniplas will help Revere grow in automotive, outdoor power equipment, medical and other end markets. He acknowledged that Revere will have to win business that Techniplas ran in the two plants prior to its bankruptcy.

“We think in the matter of a month or so we can have tools and production running again,” Drummond said.

The Ankeny plant has presses ranging from 85-3,000 tons of clamping force. The Auburn plant has presses ranging from 230-1,500 tons, and has expertise in two-shot molding.

Drummond said finalizing a deal was complicated by the coronavirus pandemic.

“Even under regular circumstances it would have been difficult,” because of the timing of the bankruptcy, he said.

“We had to deal with having to do every single thing through a Zoom call or some sort of video conferencing. And then traveling to the facilities, everything was complicated, it took two days to get the team anywhere.”

https://www.plasticsnews.com/news/revere-plastics-buying-two-plants-techniplas-throughbankruptcy-court-process

Plastics News – Rising Stars 2020: Mack Biggert

April 13, 2020 10:13 AM

JORDAN VITICK Plastics News Staff

Mack Biggert, 27
Senior Manager, Mergers and Acquisitions, Revere Plastics Systems

Mack Biggert’s first job with plastics was a finance internship at Ann Arbor, Mich.-based Amcor Rigid Plastics, a manufacturer of rigid plastic packaging for markets such as food and beverage, personal care and health care. While he did not know much about plastics at the time, he came to “develop an appreciation for the vital role plastics play in a variety of other industries across the globe,” he said.

Biggert graduated from the University of Michigan Ross School of Business. Before Amcor, he worked for Chicago-based global investment bank Lincoln International as an investment banking analyst in the mergers and acquisitions group.

He joined Revere Plastics Systems, an injection molder headquartered in Novi, Mich., as the senior manager of mergers and acquisitions in 2019. Biggert said his current challenge is finding and completing the company’s next acquisition.

“M&A is a major component of Revere’s growth plan, and we aim to complete 1-2 acquisitions every 12 months. However, we still have to be cautious about which companies we acquire,” he said. “Data shows that about half of acquisitions fail, so you have to put in a lot of effort before an acquisition to make sure it is a good fit for your company. This can be frustrating when you are eager to grow the business, but patience is ultimately better for the company’s long-term viability.”

Biggert is involved in the Manufacturers Association for Plastics Processors.

Plastics News: What is the best advice you have ever received? 

Biggert: You have to “do” before you can lead. This sounds obvious, but it is helpful to keep in mind that you are more effective and coworkers respect you more when you actually understand the work that everyone within your organization does. Empathy combined with credibility go a long way in business.

Q: What advice would you give to a person considering a career in the plastics industry? 

Biggert: I would say that the industry provides a lot of opportunity for people of many disciplines. Additionally, because plastics are used in so many applications, you have the opportunity to work with customers in a variety of end markets.

Q: What steps have you taken to advance in your career? 

Biggert: I make a concerted effort to keep learning on the job. I want to learn something new about my company, the industry, business in general every day. The more you know, the more effective you can be and the more doors open to you.

Q: If you were CEO of a company, what would you do first? 

Biggert: I believe in servant leadership. I would try to speak with as many of the ground-level employees as possible to see what their needs are and how I can serve and represent them.

Q: What job do you really want to have in the future? 

Biggert: I really like my current role because it allows me to think analytically and strategically. In the future, I’d like to continue to expand my strategic role within Revere and the plastics industry, in whatever form that takes.

https://www.plasticsnews.com/news/rising-stars-2020-mack-biggert

Glen Fish, CEO of Revere Plastics Systems, LLC., was interviewed by MSNBC on the effects of tariffs on the washing machine industry.

May 10th, 2019

https://www.msnbc.com/stephanie-ruhle/watch/garrett-haake-reports-on-how-tariffs-have-driven-up-the-cost-of-washing-machines-and-dryers-59384901661

Manufacturing Marvels profiles Revere Plastics Systems

Manufacturing Marvels profiles Revere Plastics Systems, industry leader in highly engineered precision plastic injection molding systems, solutions and products.

Aired March 5, 2019 on Fox Business Network.

Revere Plastics growing in automotive market with move, acquisition

January 8, 2019

Plastic News By AUDREY LAFOREST

Injection molder Revere Plastics Systems LLC is following through on plans to diversify into the automotive market with a move to metro Detroit and a recent acquisition.

Revere, previously headquartered at its manufacturing facility in Clyde, Ohio, moved into a roughly 2,000-square-foot leased office space in Novi, Mich., in April.

CEO Glen Fish cited proximity to the automotive industry and the ability to tap into the local talent pool as two big reasons for the move to Michigan. Approximately five executives work out of the Novi office.

In addition to the new headquarters, Revere announced Jan. 4 it had acquired certain operations and assets of Tier 1 automotive supplier Sur-Flo Plastics & Engineering Inc.’s Fraser, Mich., facility. Terms of the deal were not disclosed.

Revere has hired the 114,500-square-foot facility’s 111 employees. Going forward, Sur-Flo will not remain a company, Fish said during a Jan. 7 phone interview with Plastics News.

Livonia, Mich.-based Vari-Form Group, formerly known as Crowne Group, was the parent company of Sur-Flo.

Sur-Flo manufactured large-tonnage injection molded parts and assemblies primarily for the automotive industry, including fascia brackets, radiator and front grille support systems and molded-in-color interior components, among other parts. Customers included automakers such as Fiat Chrysler Automobiles NV.

“[Sur-Flo] had a very good track record operationally. It was obviously very strategic to our diversification efforts that we’ve been working on,” Fish said. But Sur-Flo “had gone through some challenges,” he explained, including a reduction in volume as programs shifted and rolled off.

“As they went through their rough period again … they had not put any salesforce out in the market, so we’re pretty excited to go and help sell that capacity back because they had done probably 25 percent more volume through that facility in the past,” Fish said.

Revere predominantly supplies plastic components for the appliance industry, serving customers such as Whirlpool Corp. The company has been steadily trying to grow the automotive portion of the business, however, doing so mostly organically up to this point.

“But this obviously gives us a big jumpstart with customers that we didn’t previously do business with,” Fish said, adding that the acquisition represents Revere’s “first foray into being a Tier 1 supplier.”

Through the deal, Revere acquired 35 injection molding machines, ranging from 45 tons to a whopping 3,300 tons, as well as other equipment for secondary operations such as post-mold assembly and vibration welding.

The additional injection molding machines bring Revere’s companywide total to about 265, Fish said, with clamping forces starting at 25 tons.

“Our previous top end was 1,880 tons, and so we do very well in the large-tonnage capacity in general as a company,” he said of the addition of a 3,300-ton press. “Being able to increase that range is pretty strategic for ourselves as well as to open some existing capacity in those ranges where we’ve had to buy presses in the past.”

Revere, owned by French private equity firm Ardian, has four additional plants including Clyde, Ohio; Jeffersonville, Ind.; Poplar Bluff, Mo.; and Brampton, Ontario. The company also has a sales office in St. Joseph, Mich.

Annual sales for Revere, which employs around 1,150 people, are estimated at $250 million, Fish said. In PN’s most recent ranking of North American injection molders, the company comes in at No. 42.

“Our strategy is to continue to grow,” he said, adding that the company is “very, very inquisitive and active in the mergers and acquisition space.”

Outside of automotive and appliance, Fish said the company is evaluating at least a half dozen end markets for potential growth.

“Many of these end markets we can serve out of existing facilities, so we’re looking at how to penetrate an end market that has some cross-selling opportunities with other divisions,” he said.

https://www.plasticsnews.com/article/20190108/NEWS/190109912/revere-plastics-growing-in-automotive-market-with-move-acquisition

Revere Plastics Systems Acquires Certain Operations and Assets of the Fraser, Michigan Facility of Sur-Flo Plastics & Engineering, Inc.

NOVI, Mich., Jan 4, 2019 – Revere Plastics Systems, LLC, one of the nation’s premier suppliers of plastic injection molded parts and assemblies, has acquired certain operations and assets of  the Fraser, Michigan facility of Sur-Flo Plastics & Engineering, Inc., a manufacturer of large tonnage plastic injection molded parts and assemblies. Revere has hired the facility’s employees and will continue to serve the facility’s existing customer base. This acquisition will grow Revere’s manufacturing footprint from four to five locations throughout North America. Revere’s other manufacturing facilities are located in Ohio, Indiana, Missouri, and Ontario, Canada. The Company recently moved its corporate headquarters to Novi, Michigan to support sales growth and diversification across multiple industries.

“This acquisition supports Revere’s vision for growth while investing in the community, securing jobs and building on Revere and the Fraser operation’s initiatives. We are excited to integrate our complimentary capabilities and invest in the Fraser operation including adding additional engineering support,” said Glen Fish, CEO of Revere Plastics Systems. The transaction reinforces Revere as a leader in the plastic injection molding industry by adding to its capabilities while remaining dedicated to delivering highly engineered, complex parts. “Revere plans to continue executing its growth strategy through future acquisitions,” Fish commented.

The acquired Fraser operation has 35 injection molding presses ranging from 45 to 3,300 tons, as well as other equipment enabling a variety of value added secondary operations such as post mold assembly and vibration welding. The Fraser operation currently serves automotive OEM and Tier-1 customers nationwide, offering full service plastics manufacturing capabilities with functional, exterior and interior products including: fascia bracket systems, radiator and front grille support systems, ornamental exterior appliques, underbody splash and aero shields and MIC interior components.

About Revere Plastic Systems

Revere Plastics Systems, LLC, has over 50 years of experience in plastics and manufacturing. The company was founded to better serve customers world-wide while applying its engineering core to improve its customers’ competitive global position. Revere has manufacturing capabilities that include value added plastic injection molding, welding, assembly and testing. For over 25 years, Revere has remained among the nation’s top 100 plastic injection molders. The company employs more than 1,000 people in its manufacturing, technical and sales facilities. For more information about Revere, visit www.rpsystems.com.

Solar shingle production expands to second molder

Plastics News
By: Catherine Kavanaugh
June 28, 2018


RGS Energy has seen such strong demand for the Powerhouse solar shingle that it has inked a deal with a second injection molding partner to meet demand for the shingle system, which combines solar power collecting with a roof shingle.

RGS, which says it is seeing more than $570,000 worth of reservations for Powerhouse every day, has signed Clyde, Ohio-based Revere Plastic Systems LLC as a second molder.

Revere, with more than 230 presses, will join Creative Liquid Coatings Inc. in Kendallville, Ind., as part of the supply chain producing the in-roof solar shingles.

Developed by Midland, Mich.-based Dow Chemical Co. and licensed to Denver-based Real Goods Solar Inc., which does business as RGS Energy, the Powerhouse system has been hailed as a breakthrough because it serves as both a building product that can be used to replace asphalt roofs and a source of electricity. Installed flush to the roof, the product also is more visually appealing than panels on mounts tilted toward the sun.

RGS says the potential market for the updated Powerhouse system is 7 million homes a year in the United States. If it can capture 1 percent of that market through sales to roofers and homebuilders, sales could reach $1 billion.

RGS Energy Revere Plastic Systems LLC is the second injection molder to join in the partnership to produce Powerhouse shingles.
Revere agreed to dedicate resources to support up to $138 million in estimated Powerhouse sales after seeing the solar shingles and its “huge market potential,” according to CEO Glen Fish.

“We believe our financial strength and reputation will enhance the Powerhouse supply chain,” Fish said. “Beyond that, we believe as the Powerhouse line evolves, our design and engineering expertise will prove to be valuable at reducing cost and enhancing product features.”

In business for more than 50 years, Revere has 750 employees serving customers that include Whirlpool, GE, Briggs & Stratton, Tyco and Dura Automotive Systems. The company has production facilities in Clyde, Jeffersonville, Ind.; Poplar Bluff, Mo.; and Brampton, Ontario.

RGS now has four partners ramping up to produce the third generation of the solar shingle series, which will be called RGS Powerhouse 3.0. In addition to the two injection molders, General Polymers Thermoplastic Materials LLC of Clarkston, Mich., will provide the polypropylene for the composite base structure and Ningbo, China-based Risen Energy Co. Ltd. will supply the solar components and wire harness connectors.

Customer reservations currently exceed $36 million, according to RGS CEO Dennis Lacey.

“To meet growing demand, we required an additional plastic molding manufacturer,” Lacey said in the release. “As we work towards UL [Underwriters Laboratories] certification in September, our supply chain partners are taking the necessary steps to be able to quickly manufacture Powerhouse.”

RGS received UL approval for the base resin in April and is seeking to certify the entire system, which is made up of a base assembly, electrical connector and solar laminate.

Dow holds numerous patents for the Powerhouse technology, licensing them to RGS for $3 million plus quarterly royalties of 2.5 percent of the net sale price.

Lacey expects 2018 to be a transformative year for RGS with quarterly operating profit “to turn positive” in 2019. He described the market opportunity for Powerhouse as tremendous and pointed to the solar mandate that passed in May in California requiring all new homes, condos and apartment buildings to be equipped with solar power starting in 2020. California is the first to adopt a state-wide mandate.

RGS plans to sell the Powerhouse 3.0 system in California through direct sales to builders and roofing companies that have been trained to install the product and become Powerhouse dealers. The company appointed former Dow Solar field technician John Hardwick as vice president of construction services. He previously oversaw sales in that state and Texas as well as training for roofing and builder partners in those two states, Colorado, North Carolina, New York, New Jersey and Hawaii.

RGS Energy also has been selected by Solarize Brookfield, a solar purchasing cooperative, to bring solar electricity to about 6,000 homes and businesses in Brookfield, Conn. The sign-up period continues through Sept. 25.

In October, Solarize North Haven, which is also in Connecticut, went with RGS Energy to deliver solar power to its 8,600 households. This state’s program, Solarize Connecticut, has helped residential solar installations grow from fewer than 900 in 2012 to more than 22,000 today.