Citadel Plastics Holdings Inc., a portfolio company of Wind Point Partners, has completed the acquisition of QTR Inc., Evansville, Ind. The deal was completed through Citadel’s Evansville-based subsidiary, The Matrixx Group. Terms of the deal were not disclosed.
QTR’s assets and the engineered resins product line of The Matrixx Group will be combined into a new company called Matrixx-QTR. Rod Jackson, president of QTR; and Mary Perigo, CFO, will join Matrixx-QTR in the same roles.
“This is a very beneficial and strategic alignment for QTR and The Matrixx Group and will enable Matrixx-QTR to offer a broader portfolio of products to our customers. We are looking forward to working with the rest of the Citadel team,” says Jackson in a release announcing the deal.
The purchase of the QTR assets is Citadel’s sixth plastics-related acquisition since 2007. The acquisition is “a great fit” says Mike Huff, COO for Citadel. “We’ll continue to look to make more acquisitions in engineered thermoplastics and thermosets, and we’re going to explore our global options as well.”
QTR manufactures custom compounds based on recycled polycarbonate and other engineering resins. The company operates three twin-screw and to single-screw extrusion lines.
Citadel Plastic Holdings Completes Deal for QTR
New company will be called Matrixx-QTR.