Phillips Plastics Corp. (Hudson, WI) was acquired on Dec. 10 by Kohlberg & Company LLC, a private equity firm based in Mount Kisco, NY. “Today we go forward under new ownership, but our commitment remains the same—to provide our customers with a resource for state-of-the-art technology and engineering expertise that will give their products a competitive edge in the marketplace,” stated Brad Wucherpfennig, Phillips’ current CEO. Wucherpfennig will continue to lead the company and the entire management team will remain in place, according to information from Phillips.
“Working with Kohlberg, we will be able to strategically grow our business to meet the needs of our customers worldwide,” Wucherphfnnig added.
Backed by the financial strength of Kohlberg’s private equity funds, it is expected that the acquisition will accelerate Phillips' ability to serve its customers on a global basis. “We are excited to be working with the people of Phillips,” commented Sam Frieder, managing partner of Kohlberg, in a prepared statement. “The company already possesses a strong market presence and recognized brand—we look forward to helping Phillips enhance and expand its service offering, which will directly benefit customers across all market segments.”...