By Rhoda Miel, Plastics News Staff
New York -- Private equity group Monomoy Capital Partners LP is making its second plastics acquisition within two months, buying L&P Plastics llc and its four moulding plants from Leggett & Platt Inc.
In August, New York-based Monomoy announced a deal to buy the six injection moulding plants of Atlantis Plastics Inc. of Atlanta. Last year, the company bought Kurz-Kasch Inc., a Dayton, Ohio-based moulder of thermoset parts for the aerospace, consumer and electrical distribution industries.
The L&P purchase includes injection moulding and structural foam moulding, with plants in Carlyle, Illionois; Poplar Bluff, Missouri; Booneville, Mississippi; and Brownsville, Texas.
The companies did not disclose the purchase price.
L&P makes parts for sectors including power tools, medical devices, furniture and automotive, but the company has been a non-core asset for Leggett & Platt, based in Carthage, Missouri.
Monomoy vice president Mayank Singh said his firm will work with the current L&P executive team to develop L&P into a stand-alone company that will be ready to make further acquisitions in the plastics industry.