GARDENA, Calif. — Rotational Molding Inc., a new company owned by two former executives of Rotonics Manufacturing Inc., has purchased Rotonics’ former headquarters plant in Gardena—in a deal set up by founder Sherman McKinniss.
Rotational Molding announced the deal on Dec. 1. Terms were not disclosed.
Heading the new company is Mario Poma, president and CEO, and Douglas Russell, chief financial officer, who both have more than 20 years of experience in rotomolding.
McKinniss sold Rotonics Manufacturing in 2001 to Spell Capital LLC. On Nov. 12, Spell announced that it was closing the Gardena plant.
McKinniss says Rotonics officials contacted him about finding a possible buyer, and he connected them with Poma and Russell.
McKinniss says he has no ownership stake in Rotational Molding Inc. and is retired from the industry. “All I ever did was [serve in] an advisory capacity,” he says.
Poma had been general manager of the Gardena plant. Russell was the former chief financial officer of Rotonics, prior to the Spell buyout.
Poma says the plant was shut down for only one day. It has been in production under ownership of Rotational Molding since Dec. 1. Rotational Molding will continue the operations in Gardena, with full retention of the current customer base.
The Gardena plant employs about 70 people and runs nine rotomolding machines.
The company will do custom molding and make proprietary products serving the laundry and linen, refuse, and material-handling markets.
Earlier, Spell Capital had moved Rotonics’ headquarters from Gardena to Commerce City, Colo.
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