Regimen Equity Partners' portfolio company, Plastifab, has acquired Marchel Industries, broadening Plastifab's capabilities and accelerating its growth in the United States

VANCOUVER, British Columbia, March 15, 2023 (GLOBE NEWSWIRE) -- Regimen Equity Partners Inc. ("Regimen") is pleased to announce the acquisition of Marchel Industries Inc. ("Marchel" or "the Company") by its portfolio company, Plastifab Industries, Inc. ("Plastifab"). Marchel represents a highly synergistic and strategic acquisition that will bolster Plastifab's presence in the US market in addition to broadening Plastifab's service portfolio by adding injection molding capabilities to better serve Plastifab's diverse customer set. Matt Pitts, will continue with Marchel as a partner, leading the day-to-day at the Company, with strategic direction and oversight coming from Plastifab and Regimen.

Located in Spartanburg, South Carolina, Marchel is a full-service plastic injection molding and machining company. The Company is operated from a 36,000 square foot climate-controlled facility, equipped with state-of-the-art injection molding and an onsite tool shop. In addition to full-service plastic injection molding, Marchel's capabilities include precision machining, electrical discharge machining, plastic design, custom molding, reverse engineering, prototyping, parts assembly, testing, and dimensional analysis. The Company is committed to excellent customer service and quality (ISO 9001-2015), servicing a broad base of customers such as OEM, medical, government, automotive and industrial companies, among others.

Plastifab and Marchel will mutually benefit through one another via shared services, operational best-practices, geographic growth and the ability to provide both companies customer sets with a wider range of capabilities and services.

Ryan Antoniadis, President & CEO at Plastifab, commented "The addition of Marchel into the Plastifab family represents an exciting step forward. The goal at Plastifab is to be a true partner to our customers, creating custom solutions with a team of knowledgeable and dedicated experts. The capabilities that Marchel exhibits allows us to follow our mission by strengthening our offering through Marchel's injection molding capabilities, providing another layer of custom solutions to our valued customers. We are convinced that this partnership is a perfect fit as both companies share the same common values. We are grateful to Gene Pitts and his family for trusting Plastifab with the legacy of Marchel and extend a warm welcome to Matt Pitts, as our partner in growing the business."

Matt Pitts, added "We are enthusiastic to be joining forces with Plastifab and genuinely believe they are the ideal new partner for Marchel. Plastifab brings to the table tremendous capabilities, giving Marchel the ability to scale alongside Plastifab. When deciding on our new partner, fit was paramount and Plastifab's commitment to its customers, growth and overall values made them the perfect partner. We are excited about Marchel's next phase of growth and know that Plastifab will preserve the company our family has built. Collectively, we're well positioned to grow together for generations to come."

Lastly, Gerry Bellerive, Managing Director at Regimen, added "The acquisition of Marchel represents another level of growth for Plastifab, instantaneously diversifying Plastifab's portfolio of services while simultaneously growing into the United States and different end-markets. Through years of hard work and commitment to its customers, Gene Pitts and his family have created a fantastic business, complementary to Plastifab's product offering. I'd like to thank Gene and his family for their years of service and we look forward to partnering with the next generation, with his son Matt Pitts."

About Plastifab Industries

Headquartered in Quebec, Canada, Plastifab is a manufacturer of extruded thermoplastic products for a wide range of industrial and commercial end-uses for customers throughout North America.

Plastifab focuses on creativity and innovation to solve demanding application issues with unique technical and custom solutions. The success of Plastifab is dependent on our dynamic team, who have the unique ability to continuously improve our processes and customer service across all our business units, to ensure alignment with customer expectations.

About Regimen Equity Partners

Regimen is a private equity firm specializing in the ownership transition of small to mid-size Canadian organizations. By partnering with skilled executives, we transform profitable enterprises into industry leading players through strategic acquisitions and best management practices. Forming meaningful and lasting relationships, Regimen creates significant wealth over the long term through a multi-decade approach of measured and sustainable growth. Regimen has offices in Vancouver and Toronto. To learn more about Regimen Equity Partners, visit www.regimenpartners.com.

For additional information, please contact Nancy Brown (nbrown@regimenpartners.com)