Teel Plastics Company Profile

Background

Founded in 1951 as Insemikit Co., Teel Plastics has evolved into a leading manufacturer specializing in custom extruded plastic tubing, cores, and profiles. The company is headquartered in Baraboo, Wisconsin, and operates four manufacturing facilities within the region. Teel Plastics is committed to delivering high-quality, technology-driven products across various markets, including medical, cosmetics, industrial piping, flex film cores, and water treatment. The company's mission emphasizes continuous improvement and fostering long-term relationships with customers and suppliers.

Key Strategic Focus

Teel Plastics focuses on technology-driven products and new markets with unique product families. The company excels in the plastic core, water treatment, cosmetics, disposable medical product, and industrial piping markets. Teel supports these markets with top-notch technology, including a full-service analytical laboratory. The Laboratory Sampling Products Division continues to develop innovative sampling bag products for new customer uses. Additionally, Teel manufactures a custom compounded device for the pest control market through its TeelDAS subsidiary.

Financials and Funding

In January 2020, Teel Plastics completed a recapitalization with MPE Partners, a private equity firm. This partnership aimed to capitalize on significant growth opportunities and support the company's strategic initiatives. The transaction proceeds were intended to accelerate the company's growth.

Pipeline Development

Teel Plastics has been actively expanding its product offerings and capabilities. In 2017, the company added injection molding services, complementing its extrusion operations and adding new products. In 2020, Teel's injection molding services received national attention for producing swab stick handles used in COVID-19 test kits. The company has also been involved in producing components for breathing devices and oral hygiene kits used in the fight against COVID-19.

Technological Platform and Innovation

Teel Plastics is recognized for its technological advancements and commitment to innovation. The company offers a range of capabilities, including:

Extrusion: High-quality custom plastic tubing and profiles with tight tolerances, ranging from 0.025” to 9” O.D. and one to seven layers.

Injection Molding: Utilizing Arburg machines ranging from 110- to 350-ton, with robotic part pickers and semi-automated packaging.

New Product Design and Development: A dedicated team following a stage-gate process, employing digital and real-world tools for co-engineering with customers.

Custom Compounding: Experience in natural fiber composites and custom barrier layers, with twin screw and dry powder blending capabilities.

Analytical Laboratory Testing Services: An ISO/IEC 17025:2017 accredited facility offering polymer testing services.

These capabilities enable Teel to deliver innovative solutions tailored to customer needs.

Leadership Team

Teel Plastics' leadership team comprises experienced professionals dedicated to the company's growth and innovation:

Jay Smith: Chairman of the Board.

Tom Thompson: President.

Jerry Pritchett: CEO.

Their combined expertise has been instrumental in steering Teel Plastics toward its strategic objectives.

Leadership Changes

In 2020, Teel Plastics underwent a significant leadership change when it was acquired by MPE Partners. Jay Smith remained as chairman of the board, ensuring continuity in leadership during the transition.

Competitor Profile

Market Insights and Dynamics

The plastic extrusion and injection molding industry is characterized by technological advancements and a focus on high-quality, custom solutions. The market serves diverse sectors, including medical, industrial, and consumer products, with a growing emphasis on precision and regulatory compliance.

Competitor Analysis

Key competitors in the industry include:

Medbio LLC: A medical molder and contract manufacturer based in Grand Rapids, Michigan, specializing in medical devices.

Redline Plastics LLC: A rotational molder, heavy-gauge thermoformer, composite fabricator, and cut-and-sew company in Manitowoc, Wisconsin.

Radius Packaging: A blow molder and injection molder of rigid packaging in New Berlin, Wisconsin.

These companies have been recognized for excellence in various aspects of the industry, contributing to a competitive landscape.

Strategic Collaborations and Partnerships

Teel Plastics has engaged in significant collaborations to enhance its market position:

MPE Partners: The 2020 recapitalization with MPE Partners provided resources to accelerate growth and innovation.

Puritan Medical Products: A partnership to produce swab sticks for COVID-19 test kits, demonstrating Teel's responsiveness to urgent healthcare needs.

Operational Insights

Teel Plastics' strategic focus on regulated markets and high-quality, custom solutions differentiates it from competitors. The company's investment in technology, such as online gauging equipment and automation, enhances efficiency and product quality. Additionally, Teel's commitment to lean manufacturing and continuous improvement fosters a culture of excellence.