American Plastics, formerly Katy Industries, Inc., is a holding company for a group of businesses which produce and distribute maintenance products and electrical products.[1] The first manufactures and distributes commercial cleaning products,[2] and sells consumer home and automotive storage products. The second designs and distributes consumer electrical-corded products.
| Formerly | Katy Industries, Inc. |
|---|---|
| Company type | Holding company |
| Founded | 1967 |
| Founder | Wallace E. Carroll |
| Owner | Private |
History
editThe company was organized as a Delaware corporation in 1967,[3] 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.[4]
The founder of the holding company was industrialist Wallace E. Carroll.[5] 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.[6] 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 July 2022.[7]
References
edit- ^ a b "Katy Industries gets new owner, name". www.bizjournals.com. Retrieved 2023-08-21.
- ^ "Commercial Cleaning Company". Retrieved 2020-10-11.
- ^ "Katy Industries Arranges To Purchase 2 Companies". The New York Times. 1968-07-13. ISSN 0362-4331. Retrieved 2023-08-21.
- ^ "Union Pacific To Buy Katy (Published 1986)". 1986-06-06. Retrieved 2023-08-21.
- ^ "COMPANY NEWS; Founder's Family Makes 2d Offer for Katy (Published 1993)". 1993-03-13. Retrieved 2023-08-21.
- ^ Staff reports (2017-07-24). "Katy Industries sold, renamed American Plastics". STLtoday.com. Retrieved 2023-08-21.
- ^ Dorbian, Iris (2022-07-20). "Highview exits manufacturer American Plastics". PE Hub. Retrieved 2023-09-22.
External links
edit- Funding Universe Company Histories: Katy Industries Inc. History
- Katy Industries Inc. annual report (2013)
- Business data for Katy Industries Inc.: