Private equity firm BC Partners buys Adams Manufacturing
The purchase connects Adams Manufacturing, headquartered in Pennsylvania, with plastic household and garden products maker Keter Group, which BC Partners also owns.
UK-based private equity firm BC Partners has acquired Adams Manufacturing, said to be the largest maker of plastic outdoor furniture in America.
The terms of the deal have not been disclosed.
The purchase connects Adams Manufacturing, founded in 1976 and headquartered in western Pennsylvania, with Israel-based Keter Group, which BC Partners also owns. Keter is a leading manufacturer and marketer of resin-based household and garden consumer products, which are sold in 90 countries and found in more than 25,000 retail outlets worldwide.
“As a leader in the resin garden furniture category with a trusted and established foundation and stellar reputation, we look forward to adding Adams Manufacturing to the Keter family and our growing portfolio,” Alejandro Pena, Keter CEO, said in a statement. “This strategic partnership is a testament to Keter’s focus on the expanding North American market and will provide long-standing customers of Adams Manufacturing with a wider variety of product lines.”
The existing management team of Adams, under the leadership of CEO Tom Lombardo, will remain in place, the statement also said, and there are no plans to combine Adams and Keter in the short to medium term.