Myers Industries Acquires Elkhart Plastics, Inc.
November 10, 2020
Myers Industries (NYSE: MYE) acquired the assets of Elkhart Plastics, Inc., adding the South Bend-based rotational molder to its Material Handling segment and combining it with Myers' Ameri-Kart business to form the fifth-largest rotational molder in the United States. Elkhart operates six U.S. manufacturing facilities with approximately 460 employees and had roughly $100 million of revenue in 2019; Myers financed the acquisition with cash, expects immediate accretion to earnings, and projects $4–6 million of annual cost synergies.
- Buyers
- Myers Industries, Inc.
- Targets
- Elkhart Plastics, Inc.
- Industry
- Manufacturing
- Location
- Indiana, United States
- Transaction Type
- Addon
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