The transaction is expected to finalize within the next 30 days. EPI will then take ownership of P2 and CAD. P2 is a 15-year-old custom rotational molder that primarily serves the marine recreation and point of purchase industries. P2 currently manufactures molded components for CAD, which was founded in 1995 and supplies modular floating docks and PWC docks to dealers across the United States.
Both P2 and CAD are located in Atlantic, Iowa, and are subsidiaries of Owner Revolution, Inc., located in Adair, Iowa.
“We’re excited that this acquisition will allow us to increase our U.S. footprint and give EPI greater capacity,” said Jack Welter, CEO of EPI. “We’re looking forward to increasing service to current and future customers with an additional manufacturing location.”
EPI corporate headquarters are located in South Bend, Ind. Additional locations include Elkhart, Ind.; Littleton, Colo.; Middlebury, Ind.; and Ridgefield, Wash.
Welter says EPI plans to transfer products to P2 from some of the current locations to better serve existing customers. P2 has 10 rotational molding machines.
EPI creates rotationally-molded products in an almost endless variety of shapes, lengths, and thicknesses out of its five existing factories. The company provides custom designs for clients in industries including recreational vehicles, marine, agriculture, commercial construction equipment, heavy truck equipment, material handling, and more. EPI also manufacturers Tuff Stack™ and Tuff Cube™ Intermediate Bulk Containers and KONG Coolers.