Alongside Star Plastics’ leadership team, former Sector Leader Bob May leveraged his decades of manufacturing industry experience to build on the company’s position as a premier plastics compounder and distributor.
Tapped as the anchor investment for Akoya’s Specialty Chemicals Platform, Star Plastics is poised to substantially expand its capabilities, capture new share, and more quickly bring added value to its customers.
Created in partnership with Star Plastics’ leadership, Akoya’s Value Creation Plan outlines clear actionable steps to realize the company’s full potential.
Organic Growth Opportunities
M&A Growth Opportunities
Akoya inspires change in three key areas critical to growth.
Talent Acquisition: Star Plastics’ leadership team was strengthened with the recruitment of an accomplished CEO with more than 25 years of plastics and executive leadership experience. Investments in management-level employees across Sales, Accounting, Operations, and HR position the company to drive and support rapid growth.
Capital Investment: Increased capital expenditures are expanding manufacturing capacity while simultaneously producing production efficiencies. Ongoing implementation of innovative vertically integrated compounding capabilities is producing added value for existing customers while opening the door to new ones.
Board & Governance Structure: Serving as Executive Chairman of the Board, Akoya’s Sector Leader is broadening perspectives – helping shape new strategies, and establishing KPIs to measure performance and mitigate risk.
As 2022 ended, the acquisition of a nylon recycler created immediate synergies for both companies.
Three new product line extensions addressed growing customer needs, and contracts with key raw material suppliers solidified the company’s supply chain.