FourBridges Capital Advisors announced today that Available Plastics, Inc. has been sold to a group of private investors. FourBridges acted as the exclusive investment banker to Available Plastics and negotiated and structured the transaction on behalf of owner Suanne Yarbrough.
Officials said, "Founded in 1978, API is a Huntsville, Alabama-based plastics manufacturer, specializing in extrusion and injection molded products. API produces an extensive range of PVC products for diverse applications, from PVC pipes, cores and tubing to a variety of custom injected molded parts and fittings.
API's offerings cater to a wide variety of end markets including construction, manufacturing, and utilities. The company was started by Ms. Yarbrough’s father, Dr. Louis Brown."
“We were pleased to work with Suanne and the team at API on finding a buyer that met the financial objectives of a transaction as well as the personal objectives relating to employees and the legacy of the company,” said FourBridges Managing Director Andy Stockett. “We are pleased to know that CEO Keven Cook and Operations Manager Anthony Peavy will remain with the company and be positioned to take it to the next level.”
API operates out of a 120,000 square foot facility, with eight extrusion and three injection molding lines with a capacity of 12 million pounds of product annually. The company has 46 full time employees.
Legal advisors to Available Plastics were George Smith and Daniel Culpepper of the Huntsville office of Bradley Arant Boult Cummings LLP.