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Article: Investment firm snags Laird.(News)
- Article from:
- Plastics News
- Article date:
- August 30, 2004
- Author:
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Richard Higgs
Blackfriars Corp., a low-profile private investment firm based in Northbrook, Ill., is about to become a much bigger player in the consolidating market for semi-finished plastics distribution.
The firm on Aug. 23 agreed to pay $65 million for Laird Plastics Inc. of West Palm Beach, Fla., the third-biggest player in its sector.
Blackfriars already owns Los Angeles-based Port Plastics Inc. and Amari Plastics plc of Weybridge, England. The combined operations rank behind global leaders ThyssenKrupp Services AG and GE Polymershapes.
"This deal puts the new Laird Plastics, with the synergy of the acquiring companies' ...