TruVenture Composites, parent company of Nicolet Plastics, has announce that Nicolet Plastics has acquired CNR Group, for undisclosed amount.
CNR Group provides an extension to the capabilities of Nicolet Plastics by focusing on smaller‐tonnage injection molding and will now operate as CNR Plastics Division under Nicolet Plastics. CNR Group was founded in 2010 by Bob and Cheri Albrecht as a producer of plastic injection molded parts for the medical, electronics, agricultural, industrial, consumer, dental and sporting goods industries.
It operates out of a 31,000 square‐foot production facility and produces such products as medical visor frames, packaging clips, lids and containers, consumer product components and many other components. CNR Group also offers custom assembly. All employees of CNR Group have been retained and will continue with CNR Plastics Division. Following the acquisition, Bob and Cheri Albrecht will also remain with the company in their roles to manage CNR Plastics Division. Additionally, Bob and Cheri Albrecht will assist TruVenture Composites and Nicolet Plastics with organic and acquisition growth opportunities.
TruVenture Composites acquired Nicolet Plastics in 2017 as the base of its plastics and composites portfolio to which it continues to search for acquisition targets in the Wisconsin area that have plastic processing capabilities in injection molding, blow molding or thermoforming, among others. The objective of TruVenture Composites’ portfolio is to better support its customers’ requirements by providing broad and integrated plastic processing capabilities under one company dedicated to exceptional quality and customer service.
TruVenture Composites and Nicolet Plastics welcome Bob and Cheri Albrecht and look forward to working with them to continue the growth of its plastics composites business.
The acquisition was finalized on August 31, 2018. Taureau Group, LLC advised TruVenture Composites on the acquisition and DeWitt Ross & Stevens S.C. provided legal representation to TruVenture Composites.
Source: Company Press Release