Private equity firm Sole Source has purchased Texas-headquartered blown polyethylene film producer Dallas Plastics.
The companies did not disclose any financial terms of the transaction.
Dallas Plastics makes specialty films that are used in flexible packaging for various markets including medical, food, and industrial.
It was founded in 1989 and operates three manufacturing facilities in the US.
The partnership with Sole Source will enable Dallas Plastics to further position and expand its operations across North America.
Sole Source Capital managing partner David Fredston said: “Our team identified the flexible packaging space as an area of focus for Sole Source due to its attractive end markets – primarily medical and food – and with its strong track record of integrity and customers-first mentality, Dallas Plastics is the right cultural fit for our Firm.
“This is Sole Source’s 12th transaction since inception and further validates our model and position as a preferred partner for leading private companies.
“We look forward to working closely with the Dallas Plastics team to implement management’s vision of investing in technology and additional capacity, while growing the business through acquisitions.”
Following the transaction, Dallas Plastics’ current chief operating officer Kevin Pierce will assume the role of chief executive officer, while founder Dennis Pierce will continue as senior advisor to the company.
Pierce said: “I am eager to take on this expanded role as we partner with them and continue expanding, both organically and though strategic acquisitions, while offering unparalleled customer service and quality to our customers.”