Investment firm Ardian is acquiring Revere Plastics Systems LLC, a manufacturer of plastic injection molded materials, for an undisclosed amount. The target is planning to use the capital to invest in new technologies in order to expand its customer base.

Founded in 2005 to serve the plastics and manufacturing sector, Revere Plastics designs molded assemblies for the appliance, automotive, outdoor power equipment, medical, garden and consumer goods industries. The Clyde, Ohio-based target also offers a variety of other manufacturing services including: injection, laser etching, insert molding, multi-shot molding, mold-to-mold transfer, vertical molding, assembly and decorating. In addition to Revere Plastics’ headquarters in Ohio, Ardian will also acquire the target’s additional production facilities in Indiana, Missouri and Ontario.

The deal for Revere Plastics was originated by Ardian’s North America Direct Buyouts segment, which launched in October 2016. The North American direct investment segment focuses on lower middle-market buyouts, targeting specifically industrial and related business services companies.

“Revere’s highly-capable leadership, blue-chip customer base, and its value-add capabilities gave us great confidence in the company’s potential and we foresee expansion opportunities for the company ahead,” states Vincent Fandozzi, head of Ardian North America Direct Buyouts.

Dominique Senequier founded the Paris-based private equity group of French insurer Axa in 1996 and spun it off in 2013, renaming it Ardian. Today, the firm manages more than $66 billion in assets. Ardian has more than 130 companies in its current portfolio to date, including: SLV, Air Medical Group Holdings, Esim Chemicals, HR Path, IMV Technologies, and PetSmart Inc.

Ardian has remained active across the middle market. In June, the private investment firm bought automotive tube manufacturer Dynamic Technologies. Ardian previously acquired chemical storage operator LBC Tank Terminals and bought SLV, a maker of residential and commercial lighting fixtures, from Cinven Group Ltd. Earlier in 2016, the firm raised its fourth infrastructure fund with $2.88 billion in capital commitments to pursue European investments further.