Banner Capital to Acquire Three Plastics Firms, Form Seaway Group
Banner Capital announced a deal to acquire Seaway Plastics Engineering, MME Group, and Wright Engineered Plastics, creating a new entity called Seaway Group.
Banner Capital announced Wednesday it has formed Seaway Group and entered into a definitive agreement to acquire three plastics manufacturing businesses: Seaway Plastics Engineering, MME Group, and Wright Engineered Plastics. The Salt Lake City-based firm disclosed the transaction on Oct. 1, 2026, though financial terms were not disclosed.
Medical device industry veteran Ron Labrum is set to serve as executive chairman of the newly formed Seaway Group upon closing of the deal. Labrum's appointment signals the combined company's intent to target the medical device supply chain, a sector that increasingly relies on precision-engineered plastic components.
Read more FDA Review Sought for Zipalertinib Combo in Rare Lung Cancer →
The three acquired companies collectively represent a consolidation play in the engineered plastics space, a market that serves highly regulated industries including medical devices, where quality tolerances and traceability are critical competitive factors. By grouping the firms under a single holding structure, Banner Capital appears to be positioning Seaway Group for further platform growth.
Private equity-backed roll-up strategies in industrial manufacturing have accelerated in recent years as firms seek to build scale, improve purchasing power, and offer customers broader capabilities under one roof. The formation of Seaway Group follows that broader playbook, with experienced sector leadership intended to drive integration and business development post-close.
Continue reading at All Financial Services & Investing.
