NEW YORK – One Equity Partners (“OEP”), a middle market private equity firm, today announced that its portfolio company Clayens Group (“Clayens”), a leading value-added outsourced contract manufacturer of high-performance polymers, composites and precision metals headquartered in Genas, France, has signed a definitive agreement to acquire precision plastics manufacturer Parkway Products LLC (“Parkway”) and completed a carve-out of the Crystal Lake, IL injection molding manufacturing facility and transfer of in-house operations from a global healthcare corporation to Clayens. Terms of the transactions were not disclosed. Closing of the Parkway acquisition is subject to satisfaction of customary closing conditions.

“The acquisition of Parkway Products creates synergies that enable first-class production of high-performance polymers, composites and precision metals that enhances both companies’ technical expertise and overall client reach.“ said Clayens’ CEO Eric Pisani. “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. As a combined business with circa €600 million in revenues and 31 facilities in Europe, North America, and Northern Africa, Clayens is well positioned to provide top quality services to our customers on three continents and become one of the leaders in the global precision plastic components manufacturing.”

Parkway Products, LLC, founded in 1946, is a leader in five niche process technologies utilized in plastic processing and is ranked among the top 100 injection molders according to Plastic News' 2020 rankings. With over 750 dedicated employees working in nine facilities throughout the United States and Mexico, customers are provided a single source for precision-molded products requiring both high performance and advanced materials. Learn more at www.parkwayproducts.com.

“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,” said Konstantin Ryzhkov, Managing Director, One Equity Partners. “The Parkway and Crystal Lake acquisitions give Clayens strategic scale in North America and further diversify its customer base and technical capabilities.”

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."

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, broad and senior team and established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

Headquartered in Genas, France, Clayens Group is a European leader in processing polymers, composites and precision metal parts. It collaborates with customers worldwide to provide them with the products and services they need across a wide range of industries: aeronautics, automotive, healthcare, electronics, construction, household goods, sports, and leisure products. Clayens Group operates industrial sites in Germany, Eastern Europe, North Africa and Mexico, with foreign subsidiaries providing specific services to customers close to their assembly facilities. Clayens’ expertise is focused on four main technologies: thermoplastics, thermoset forming, metal engineering and electronics. Clayens’ R&D teams provide innovative technologies, often working in partnerships with its customers and third-party companies on the latest processing and design applications. Learn more at www.clayens-np.com.

Thunderbird’s portfolio consists of American companies that manufacture their products in America but aim for a larger world market. They specialize in industries including automotive, military, power, industrial and consumer. Thunderbird is looking for opportunities to expand its portfolio to include more businesses in these industries that need financial, marketing and management skills to reach higher levels of growth and revenue.

Clayen’s Crystal Lake manufacturing business includes a 473,000 square-foot fully equipped facility with clean room operations and significant capacity for growth and is primarily involved in production of plastic-based products for the medical sector, such as medical waste containers and syringes for leading healthcare players.

Founded in 1946 and headquartered in Greenville, S.C., Parkway manufactures and produces high-performance precision plastic components, and offers plastics and molding processing solutions including thermoplastics, thermoset and machined plastics, as well as magnesium thixomolding and high-performance polymers molding, allowing for highly-engineered applications across an array of industries. From its eight facilities in the US and one in Mexico Parkway serves clients in the precision industrial, infrastructure, agriculture, aerospace & defense, transportation and healthcare markets.

Thunderbird LLC (Elk Grove Village, IL) has acquired the assets of Indiana Plastics/Kruis Mold Inc., based in Elkhart, IN, and named the new companies Indiana Plastics LLC and Kruis Mold LLC. Indiana Plastics is a custom injection molding company. Kruis Mold builds and repairs custom tooling and molds for a variety of companies.

As a member of the Thunderbird LLC portfolio of companies, Indiana Plastics can now cross-manufacture various products with Metal Impact, a manufacturer of impact extruded and machined metal parts, and F&B MFG, a manufacturer of hydroformed and machined metal parts, with Kruis providing mold and tooling support with CNC and wire EDM capabilities, said Thunderbird’s information.

Indiana Plastics maintains a skilled production staff that uses the latest molding practices and modern equipment, along with 50 years of experience, to produce superior injection molded products, explained Thunderbird. Kruis Mold builds and repairs custom tools for the molding industry.

Capabilities include injection molding, assembly, in-mold decorating, high-volume molding, multi-material molding, insert molding, design, prototyping, and testing.

According to Kevin Prunsky, co-founder of Thunderbird LLC, the purchase complements Thunderbird’s recent acquisition, announced Feb. 28, 2018, of Williams Plastics LLC (Shelbyville, IN). Williams Plastics provides injection molded drinkware and custom art, design and print services. The string of acquisitions will form a stronger, more complete offering of plastic injection molding design, execution and delivery. Thunderbird has retained the Indiana Plastics/Kruis Mold Inc. management team and added marketing and financial management.

The companies’ capabilities include injection molding (85 to 660 ton), assembly, in-mold decorating, high-volume molding, multi-material molding, insert molding, design, prototyping, and testing.