Tech Molded Plastics’ CEO Scott Hanaway affirmed that position. “We’ve got a diversified customer base, which brings a broader diversification for both companies, including some packaging and aerospace products. We’re strong in the automotive market, experienced in designing and building difficult, multi-cavity molds and offer moldmaking and design engineering in-house along with an apprentice program, which adds to the overall capabilities of the combined companies.”

Bricker added that while Mexico certainly offers business opportunities, “so far, with the types of products we make, we’ve stayed within U.S. borders. But as opportunities arise with customers, we’re always willing to talk about their needs. With the high level of automation in our plants, it doesn’t make sense at this point to put facilities in Mexico.”

Changing times, however, require a dynamic response to business that builds on tradition: Shaun Champion Talisman Plastics managing director notes that ‘growth at Talisman in the last 5 years has seen us doubling our turnover and making major investments in people and equipment. This merger enables that rate of growth to continue – providing ‘win-win’ for us - but also great things for our customers, current and future.’

In addition to Tech Molded Plastics, Prism operates three other facilities including two in Michigan and one on the Mexico border in Harlingen, Texas. However, Bricker noted that Prism will be “cautiously looking at other opportunities,” always taking into account if it makes sense for the company’s overall strategy. The company currently ships more than a half-billion parts annually from its facilities in the United States.

The new grouping will be led by Shaun Champion of Talisman and Andrew Lawrence, Merriott Plastics. Lawrence said: "We are truly delighted to announce this historic merger; bringing both these industry names together in the service of our customers and for UK manufacturing - while also honouring the legacy tradition that has brought us together."

Champion added: "Throughout the new company our key focus will always be about doing the right thing for our customers. Andrew and I therefore encourage all to call up, get in touch and put this  commitment to the test. We are also exhibiting at Plastics Live 2024, Coventry Arena, June 12-13, 2024 so please make a date to visit our stand then."

Two UK contract moulders – Merriott Plastics and Talisman – have just combined to create a multi-site, multi-competence business.

Indeed, Merriott Talisman customers in primary group markets such as automotive, electrical, defence and air and fluid movement can now look forward to the many benefits that will flow from the new business which is expected to turnover in excess of £15m sales this year.

The joint technical moulding capacity from both companies provides machinery capability from 25 to 1,100 tonnes, including injection, compression and composite moulding services for products weighing from 5 grams to 10 kg.

Prism Plastics (Chesterfield Township, MI), a high-precision plastic product company, has acquired Tech Molded Plastics Inc. (Meadville, PA), a full-service injection molding company specializing in tight-tolerance, precision molding and the manufacture of production injection molds. Prism is a portfolio company of Altus Capital Partners (Wilton, CT), which specializes in U.S.-based middle-market manufacturing companies.

Prism Plastics President Rod Bricker, who is also one of Prism’s co-founders, said in his announcement, “Prism Plastics continues to experience a strong and steady growth trajectory fueled by our commitment to the Prism Way—an operational mindset geared toward lean manufacturing processes, automated technologies and embedded quality control measures that result in best-in-class standards of quality for our clients at every touch point. In acquiring Tech Molded Plastics, we recognized a strategic opportunity with a company that shares our philosophies regarding manufacturing, business, family and culture to further expand our capabilities and capacity to fuel future growth.”

In commenting on the synergies between Prism and Tech Molded Plastics, Bricker pointed first and foremost at the team of people that contribute to the success of the companies. “Both have good groups of people that been in the plastics business for many years, and have extensive knowledge and experience. That’s one of the biggest synergies,” he stated. “This is two solid companies coming together—a combination of equals. We’ve made two great companies into a greater one.”

In an interview regarding the purchase of Tech Molded Plastics, Ignatowski noted that the acquisition turned out to be Prism’s next expansion, rather than a greenfield build. Bricker confirmed that statement: “We had planned to do something like a greenfield, but this opportunity came along to acquire Tech Molded Plastics, which was a good [one] for both companies.”

Andrew Lawrence remarked that the company is excited to be bringing together the wealth of expertise and knowledge that exists within its businesses, thus creating a formidable team.

Until she retired in September 2021, Clare Goldsberry reported on the plastics industry for more than 30 years. In addition to the 10,000+ articles she has written, by her own estimation, she is the author of several books, including The Business of Injection Molding: How to succeed as a custom molder and Purchasing Injection Molds: A buyers guide. Goldsberry is a member of the Plastics Pioneers Association. She reflected on her long career in "Time to Say Good-Bye."

That legacy tradition is considerable: Talisman (known as LGG Charlesworth until 2018) is more than one hundred years old while Merriott Mouldings began production in the village of Merriott, Somerset in 1938 and ICM in Rochester, Kent in 1947. Each company is a member of the British Plastics Federation and has contributed greatly to the growth and culture of UK Plastics plc.

The newly expanded company will provide customers - particularly in the Midlands, South West and South East - with improved and local product development, manufacture, logistics and technical support.

A year ago, during an interview with PlasticsToday, Jeff Ignatowski, Director of Sales and Marketing, noted that Prism was looking to expand into other vehicle components, including opportunities for metal-to-plastic conversion, drive train, under hood, fuel system components and more. The goal was to add a fourth facility and, at the time, Prism was in the early stages of discussing where that plant might be located.

Founded in 1973, Tech Molded Plastics focuses on precision injection molded components for the automotive, medical, consumer, electronics and aerospace industries. Tech Molded Plastics currently operates 37 injection molding presses ranging from 33 to 440 tons. Through the acquisition, Prism Plastics effectively doubles its size in terms of sales, and gives the organization immediate access to a proven and sophisticated team of professionals while adding in-house mold building capabilities.

Going forward, Prism will continue to look at areas of diversification in different markets. In addition to the unique markets that Tech Molded Plastics brings, Bricker emphasized that the company will continue to diversify into other industries and develop customers in other markets, with each company continuing to support the other. “We now have a larger portfolio of services and expanded capabilities to offer all our customers,” Bricker commented.

Bricker agreed. “Prism doesn’t do in-house moldmaking, so that adds to our capabilities,” he said. “As Scott suggested, the overall customer base will be broader, and we have expertise in the same type of tough parts—critical mechanical products.”

“We’re confident that this acquisition will prove to be mutually beneficial in helping both organizations accomplish more together than they could have separately,” said Tech Molded Plastics CEO Scott Hanaway. “Prism Plastics has a strong reputation throughout the industry and we couldn’t think of a better company to align ourselves with moving forward.”