Accel Plastics Acquires Elixir Assets

Plastics processing services provider Accel Plastics Inc. (Auburn, WA) has acquired the assets of now-closed Elixir Industries, Custom Thermoformed Plastics division (Vancouver, WA). Assisted by Stopol Business Services, the merger and acquisition consulting arm of plastic processing equipment supplier Stopol Inc. (Solon, OH), Accel now owns Elixir's book of business, including sales records, files, and tooling so that Accel can support Elixir's former customer base. Elixir closed its Vancouver facility at the end of January due to declining sales.Elixir's custom design and pressure and vacuum forming capabilities blend well with Accel's range of services, which includes moldmaking, CAD/CAM, prototyping, die cutting, welding, and assembly, in addition to pressure and vacuum forming and product and tool design. Having provided these services to the medical and electronics industries for more than 20 years, Accel is using this acquisition to diversify and grow its business, despite the ailing economy. This deal has the potential to increase Accel's sales numbers by as much as 20 percent, according to the company. It expects that the industry will see more examples of such consolidation transactions because some smaller operations are unable to sustain themselves in the current economy.In addition to providing auction, liquidation, M&A consulting, and financing services, Stopol supplies injection, blow, and rotational molding equipment, as well as thermoforming, extrusion, and other machinery. Its knowledge of the plastics industry made it uniquely qualified to assist Accel with the acquisition.