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American Plastics
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. HistoryThe 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
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