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American Plastics

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American Plastics
FormerlyKaty Industries, Inc.
Company typeHolding company
Founded1967
FounderWallace E. Carroll
OwnerHighview Capital LLC
Victory Park Capital Advisors

American Plastics, formerly Katy Industries, Inc., is a holding company for a group of businesses who produce and distribute maintenance products and electrical products.[1] The first manufactures and distributes commercial cleaning products, and sells consumer home and automotive storage products. The second designs and distributes consumer electrical-corded products.

History

The company was organized as a Delaware corporation in 1967,[2] although some of its predecessor companies have been established for over 80 years. That includes its namesake, the Missouri–Kansas–Texas Railroad, a regional carrier which Katy Industries sold to Union Pacific Corporation in 1988.[3]

The founder of the holding company was industrialist Wallace E. Carroll.[4] Members of the board of directors in 2013 were CEO David J. Feldman, Wallace E. Carroll, Jr., Daniel B. Carroll, and four members of private equity firm Kohlberg & Company: chairman William F. Andrews, Christopher W. Anderson, Samuel P. Freider, and Shant Mardirossian.

The company filed for Chapter 11 bankruptcy in 2017.[5] It was bought out later that year by Highview Capital LLC and Victory Park Capital Advisors LLC, and renamed American Plastics.[1] They merged the company with Plastic Concepts and Centrex Plastics, before selling it to an undisclosed buyer in 2023.[6]

References

  1. ^ a b "Katy Industries gets new owner, name". www.bizjournals.com. Retrieved 2023-08-21.
  2. ^ "Katy Industries Arranges To Purchase 2 Companies". The New York Times. 1968-07-13. ISSN 0362-4331. Retrieved 2023-08-21.
  3. ^ "Union Pacific To Buy Katy (Published 1986)". 1986-06-06. Retrieved 2023-08-21.
  4. ^ "COMPANY NEWS; Founder's Family Makes 2d Offer for Katy (Published 1993)". 1993-03-13. Retrieved 2023-08-21.
  5. ^ reports, From staff (2017-07-24). "Katy Industries sold, renamed American Plastics". STLtoday.com. Retrieved 2023-08-21.
  6. ^ Dorbian, Iris (2022-07-20). "Highview exits manufacturer American Plastics". PE Hub. Retrieved 2023-09-22.
  • Official website
  • Business data for Katy Industries Inc.:
  • OTCQB: KATY


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