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New York-based holding company buys Dickten Masch
Published April 19, 2010 - BizTimes Daily
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Nashotah-based Dickten Masch Plastics, a thermoplastic and thermoset molder, has been acquired by Patmian LLC, a new holding company based in New York. No terms of the acquisition were disclosed.
Dickten Masch Plastics was previously owned by The Everett Smith Group, a Milwaukee-based investment company.
“The Patmian Group is committed to the success of its businesses and to supporting the key initiatives that are critical to Dickten Masch’s ongoing success,” said Steve Dyer, president and CEO of Dickten Masch. “We have the privilege of serving leading companies in a broad range of industries and most recently became a tier one automotive supplier. The Patmian Group has a vision of what it takes to build a world-class manufacturing organization that delivers unprecedented value to its customers. We are confident that with their support, we can build on our momentum to take DMP to the next level.”
The Patmian Group’s principal and founder, who wishes to remain anonymous, has roots in plastics manufacturing, Dyer said. The holding company is not planning any significant changes to the Nashotah company, he said.
“One of the great things with this is the seamless integration that is going forward for both our employees and our customers,” Dyer said. “(Patmian) invested in us because of the momentum we’ve had recently and because of what (they) consider to be a world class management team in place and the marquee customers we currently serve. (Patmian is) looking to use (Dickten Masch) as a foundation to build something larger than we are today.”
Dickten Masch Plastics has two manufacturing facilities in Nashotah, and a third plant in Ankeny, Iowa. The company employs about 300 employees now, and that number will increase by at least 50 this summer when it integrates employees from the dipstick and tube line of business it is acquiring from Milwaukee’s Charter Automotive.
