Adair Plastics

Overview: Adair Plastics, a custom injection molding company based in Bloomington, Minnesota, has been acquired by Seaway Plastics Engineering, a portfolio company of ICG plc (LSE:ICG). Seaway is a leading provider of low-to-mid volume custom plastic injection molding solutions. The acquisition expands Seaway’s geographic reach into the Upper Midwest and adds complementary molding capabilities, enhancing its ability to serve OEM customers across a broad range of industries.

Significance: The acquisition reflects continued consolidation in the plastics manufacturing sector as customers increasingly seek partners with broader capabilities, deeper technical expertise, and greater production flexibility. By bringing Adair Plastics into its platform, Seaway enhances its ability to support customers with complex, small-to-medium volume projects, while expanding regional capacity to meet growing demand. The combination positions Seaway to deliver more comprehensive solutions and reliable supply to OEMs facing higher quality expectations, faster lead times, and increasing product complexity.