Counterplas injecting vigour into plastic moulding
Plastic injection moulding company Counterplas has swooped to buy a major competitor out of administration.
Combining Cheslyn Hay-based Showpla Plastics with the West Bromwich firm is set to create a "showcase plastic moulding business", says managing director Paul Isherwood.
Counterplas, based on the Spartan Industrial Centre in Brickhouse Lane, has built a strong reputation in the industry for innovation and excellence, and the acquisition comes as it continues to expand its product range.
Mrl Isherwood has been at its helm enabling the company to stay ahead of the competition through the manufacture and design of new products, using the latest energy-efficient machines for plastic injection moulding. Mr Isherwood has now negotiated Counterplas' acquisition of Showpla.
He said: “I have, for a long time, had respect for Showpla Plastics and how it operates as a specialist plastic injection moulder within the Midlands.
"For me, it just seemed that the Counterplas wrapper around Showpla Plastics would neatly encapsulate the expansion of Counterplas, in one fell swoop. Thereby creating a showcase plastic moulding business, which would become the benchmark for quality and innovation within the plastic injection moulding industry.”
Richard Tonks and Ian Gould, of Baldwins Restructuring & Insolvency, were appointed joint administrators of Showpla Plastics in June.
Pete Simpson, a partner of Bache Brown Accountants and a long-term advisor for Paul Isherwood and Counterplas, said: "I have known and worked with Paul for a long time, and so I have a good understanding of how he conducts his business.
"Paul would only look to expand Counterplas through an acquisition where there is a true synergy. That is why the incorporation of the Showpla business within Counterplas will continue to strengthen what is already a formidable business.
Dudley-based Hawkins Hatton Corporate Lawyers has acted for Counterplas for a number of years as its corporate counsel. Partner Colin Rodrigues said: "With the event horizon of Brexit fast approaching, I have always been a strong advocate of investment as a way to improve productivity. Knowing the business of Counterplas and Showpla and the industry in which they operate, investment is the key to productivity and as such, the combination of the two businesses will create a stronger and more highly efficient business.”
