A pair of plastic lumber companies making outdoor furniture and building products have come together under one corporate umbrella with plans to expand.
Chicago-based holding company Premier Outdoor Living LLC acquired both Recycled Plastics Industries LLC of Green Bay, Wis., and Highwood USA LLC of Hometown, Pa., which also has another manufacturing site in Hazelton, Pa.
“It’s really about what we would call separate but fast-growing trends that we view as secular and ongoing,” Premier CEO Randy Ahlm in an interview.
The first trend, he said, is an ongoing transition from what Ahlm’s calls traditional materials such as metal and wood to synthetic materials that are generally plastic based.
The second trend is that people are spending more time in outdoor living spaces.
“That’s a market that’s growing by 8 to 10 percent-type numbers every year,” he said. “With those two trends, an intersection of that is the outdoor living, synthetic lumber market.”The move to create Premier was put together by Kaho Partners LLC and Nassau Point Investors LLC, two private investment firms. While the acquisition of RPI happened in February and Highwood was added in August, the private owners are only now talking about plans for growth.