Prism Plastics, backed by Altus Capital Partners, acquired Tech Molded Plastics Inc., a supplier of parts to the automotive, medical, consumer, electronics and aeronautics industries.
Both Tech Molded Plastics, based in Meadville, Pennsylvania, and Prism of Chesterfield Township, Michigan, make precision injection molding plastic parts. Prism, acquired by Altus Capital in 2014, specializes in making small auto parts, shipping more than 500 million parts per year made at three plants in the U.S. The purchase of Tech Molded Plastics, which has 37 injection-molding machines, will double the size of Prism, as measured by sales, as well as adding in-house mold-building capabilities. Terms of the deal were not disclosed.