Redco Group buys Industrial Plastics & Paints in all-Canadian deal
Canadian PlasticsCanadian Plastics Materials
Industrial Plastics is a specialty plastics and hardware retailer with seven locations in Western Canada.
In a move that grows its distribution footprint in the North American plastics sector, Langley, B.C.-based plastics and rubber manufacturer and supplier Redco Group has acquired Industrial Plastics & Paints (IP&P), a specialty plastics and hardware retailer with seven locations in Western Canada.
The financial terms of the deal have not been disclosed.
“[IP&P] has tremendous opportunity for growth and matches our philosophy of innovation with their focus on being Canada’s largest brick and mortar retailer of 3D printers and filament,” Redco Group president and CEO Graeme Fraser said in a news release.
IP&P, which has been in business for 70 years, will join Redco as an independent business unit, under the direction and leadership of IP&P general manager Ron Sherring. No changes to the company’s operations are planned.
“Not only does this provide us with a world of growth opportunities, but it also ensures that IP&P has management succession to lead us into the future,” Sherring said in the release.
Redco Group was founded in 1971, and specializes in the manufacture and distribution of industrial plastics and rubber. The company has facilities across North America and South Africa that serve both local and international markets through its operating companies, Redwood Plastics & Rubber Corp., Nylatech Inc., and Advanced Nylons SA.