Myers Industries & Elkhart Plastics Merger: Creating America's Fifth-Largest Rotational Molding Player

Strategic Pivot in Plastics Manufacturing

Myers Industries has officially acquired Elkhart Plastics, marking a significant consolidation move in the rotational molding sector. The combined entity will rank as the fifth-largest rotational molding operation across the United States, positioning the merged business as a formidable competitor in engineered plastic solutions.

Headquartered in South Bend, Indiana, Elkhart Plastics operates six manufacturing facilities and maintains a workforce of approximately 460 employees. The company generated roughly $100 million in revenue in 2019, with an adjusted EBITDA margin of 9%. These fundamentals make Elkhart an attractive bolt-on acquisition that aligns with Myers Industries’ broader transformation agenda.

Consolidating Capabilities Across Industries

Founded in 1988, Elkhart Plastics has built a reputation as a specialized manufacturer serving recreational vehicle, marine, agriculture, construction, and truck sectors. The company’s product portfolio includes KONG Coolers, TUFF Stack and TUFF Cube intermediate bulk containers, alongside Connect-A-Dock solutions—diversified offerings that complement Myers’ existing Ameri-Kart business line.

“Elkhart has established itself as a market leader with best-in-class solutions and superior customer service,” noted Mike McGaugh, President and CEO of Myers Industries. The integration creates immediate opportunities for supply-chain optimization and expanded geographic reach, allowing the combined business to serve customers with a more comprehensive product ecosystem.

Financial Impact & Synergy Targets

The transaction demonstrates immediate accretion to earnings, financed through cash on hand. Most significantly, Myers projects annual cost synergies of $4 million to $6 million, with the majority expected within the first two years. These efficiencies will emerge from operational excellence initiatives and supply-chain rationalization rather than headcount reduction.

Growth synergies are also anticipated as the expanded footprint creates cross-selling opportunities and enhanced customer access across established distribution channels. Jack Welter, president and CEO of Elkhart Plastics, emphasized cultural alignment: “We view Myers as an excellent cultural fit, and we expect a smooth integration process that strengthens value for customers, employees, and stakeholders.”

Long-Term Strategic Context

This acquisition represents a tactical step within Myers’ recently launched multi-year strategic plan focused on organic growth, operational excellence, and bolt-on acquisitions within the plastics molding space. By combining two established players in engineered rotational molding, the company strengthens its position in a consolidating market while maintaining specialized capabilities across diverse end-use industries.

The combined business will operate as a new strategic business unit within Myers’ Material Handling Segment, preserving Elkhart’s operational independence while enabling shared services and procurement advantages.