Milwaukee-based Tulip Molded Plastics Corp. is merging with Indiana-based Richardson Molding LLC, the companies announced.
The combined plastic injection molding company will be called Tulip Richardson Manufacturing. Craig Kellog, currently president and CEO of Tulip, will be CEO of the new company. Steve Dyer, president and CEO of Richardson, will be president of TRM.
The two companies serve the industrial lead-acid battery, automotive and consumer markets and will have more than 135 injection molding presses. Together they will have four facilities located in Columbus, Indiana, Philadelphia, Mississippi, Niagara Falls, New York and Milwaukee. The Milwaukee facility is located at the corner of North Fratney Street and East Keefe Avenue.
TRM said the locations and complementary capabilities would allow it “to drive operating efficiencies and provide superior customer service.”
Saugatuck Capital Co., which acquired Tulip in 2012, and Owner Resource Group LLC, which partnered with management to acquire a majority stake in Richardson in 2017, will continue to invest in the combined business.
“Tulip and Richardson both have a long history of providing outstanding service to their customers and Saugatuck believes this customer service will only be further enhanced as a result of the merger. Our current and new customers will both benefit from the expanded footprint and strengthened capabilities,” said Stuart Hawley, managing partner of Saugatuck.
Brad Esson, managing director of ORG, said the company “looks forward to supporting the management team’s efforts to integrate the two businesses and realize the full potential of the combined organization.”