Pexco LLC, a leading North American specialty plastics extruder, has acquired Performance Elastomers Corporation (PEC). Based in Ravenna, Ohio, Performance Elastomers specializes in manufacturing dense and sponge elastomer products, including both rubber-based and thermoplastic elastomers (TPEs), used in recreational vehicle, automotive aftermarket, marine and heavy equipment applications.
Established in 1992, PEC began with a single extruder in a 10,000-square-foot building. Today, PEC operates 15 extruders in facilities spanning over 100,000 square feet, providing a wide array of secondary and fabrication services as well as in-house tool and die capabilities.
Pexco CEO Sam Patel stated, “We are delighted to welcome Performance Elastomers to the Pexco family of companies. Performance Elastomers’ competencies provide an excellent fit with Pexco’s long-term commitment to strategic growth through the delivery of superior product and process innovation. Through this acquisition, Pexco looks forward to expanding the silicone and thermoplastic elastomer products and broadening its capabilities to include other high performance polymer solutions to deliver even greater value to our customers in the mobility, recreational vehicle and truck aftermarkets as well as expand into applications within other industries where these types of specialized products are required.”
Owners Art Bowen and Dave Spears stated, “We are extremely pleased to join forces with Pexco LLC, whose scale, reputation and expertise will now provide an even broader array of services and solutions to our customers. Our new alliance will only reinforce our deep commitment to quality, service, and the ongoing development of unique product applications across the many market segments we currently serve.”
Since 2009, Pexco has executed on multiple acquisitions as it has grown into the largest industrial custom plastics extrusion company in North America.
Pexco was acquired in 2018 by AEA Investors, the global private equity group. The purchase of PEC represents Pexco’s ninth acquisition under its new ownership. Patel stated that “We remain committed to the ongoing, strategic expansion of our capabilities, including the pursuit of key acquisitions that fit our core objectives as North America’s premier provider of custom plastics solutions.”
