STREESTBORO, Ohio—For the third time in 12 months, Aurora Plastics L.L.C. has made an acquisition, this time buying the assets of compounding firm JPI South.
As part of the deal, Streetsboro-based Aurora has entered into a long-term lease for the former JPI site in Pasadena, Texas, officials said in a May 1 news release. The move places Aurora in close proximity to suppliers and enhances its ability to serve customers in the western and southern part of the U.S., they added. No purchase price was disclosed.
JPI's location "is in the heart of the PVC industry [and] also puts us in close proximity to our critical supply partners," CEO Darrell Hughes said in the release.
Aurora now plans to invest "significant capital" to bring state-of-the-art equipment and technology into the JPI plant, creating what officials called "another world-class PVC blending location."
Upgrades will be completed over the next few quarters. Aurora expects that production will begin in the first quarter of 2019 at the Pasadena, Texas, facility.
Aurora, a unit of Chicago private equity firm Wind Point Partners, makes compounds based on PVC and on thermoplastic elastomers for a variety of markets. The firm previously acquired compounders S&E Specialty Polymers in October and Reinier Plastics in June.