Prism Plastics, a Chesterfield Township-based manufacturer of high-precision plastics, recently announced it was acquired by Marmon Engineered Components Co., a Berkshire Hathaway subsidiary.
Prism was acquired by Altus Capital Partners in June 2014, as part of the company’s efforts to expand in the plastics market. Founded in 1999, Prism has additional locations in Port Huron, Harlingen, Texas, and Meadville, Penn. The company’s engineering and technology teams provide products for automotive, medical, and industrial use.
“With the financial and strategic resources from Altus, we were able to accelerate growth and stay competitive in an increasingly complex and technology-driven industry,” says Rod Bricker, president and CEO of Prism. “We look forward to our new partnership with Marmon and our continued success.”
Miller Johnson served as legal counsel to Altus or its initial investment in Prism as well as this acquisition. Financial terms of the transaction were not disclosed.