JP Engelbrecht and Bill Scott
JP Engelbrecht, South Central Inc., Chief Executive Officer, and Bill Scott, the Founder of Fibertech, Inc., shake hands confirming today's acquisition of Fibertech, Inc.
EVANSVILLE, Ind. - July 1, 2021 - (Newswire.com)
South Central, Inc. (www.SouthCentralInc.com) - a 75-year-old, family-owned company based in Evansville, Indiana - today announced that it entered into an agreement to acquire Fibertech, Inc. (www.FibertechInc.net), a leading manufacturer of high-quality, custom-engineered, rotational-molded plastic products including bulk containers, plastic pallets, plastic lockers, and more for a variety of industries including agriculture, health care, hospitality, manufacturing, maritime, recreation, and recycling.
The sale allows Bill Scott, the Founder of Fibertech, to retire and provides growth opportunities and stability for the business and its employees. "Bill wanted to find a good steward for Fibertech who shared similar values, care for employees, and commitment to the community. South Central, Inc. and the Engelbrecht family check all of the boxes," said Brent Rasche, Chief Operating Officer of Fibertech, Inc.
This acquisition will further expand and diversify South Central's portfolio of investments across multiple industries including real estate, addiction treatment, and private debt. "South Central, Inc. was founded on the belief that business is an honorable calling and we can make a difference in the world by helping talented teams build great companies," said JP Engelbrecht, South Central Inc. Chief Executive Officer, who today has been named Chief Executive Officer of Fibertech, Inc. "Fibertech, Inc. is a solid company with a history of successful operations. We are thrilled to help take this local business to the next level by investing in new production capacity, talent, and technology.
About South Central, Inc:
South Central, Inc. is a 75-year-old family office and holding company investing patient capital that prefers to invest in businesses where it can make a difference by helping management achieve its goals. South Central invests across various industries with a preference toward owning investments indefinitely. For more information about South Central, please visit www.SouthCentralInc.com.
About Fibertech, Inc:
Since its inception in Elberfeld, Indiana in 1999, Fibertech has become one of the industry's preeminent plastics solution companies with a highly-skilled team that not only produces the most cost-effective and durable, 100% virgin polyethylene plastic material handling equipment, but is also committed to fostering customer relationships and continually evolving to meet their needs. For more information about Fibertech, Inc., please visit www.FibertechInc.net.
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Original Source: South Central Inc. Acquires Fibertech Inc.
