Syracuse Plastics of North Carolina Inc., a manufacturer located in Cary, has been sold for an undisclosed amount.

Morganthaler Private Equity Partners and Plastic Components Inc. acquired the company along with former owner and CEO of Syracuse Plastics Tom Falcone.

Founded in 1952, Syracuse Plastics is a custom injection molder and tooling manufacturer that molds for industrial markets, water and pool products, telecommunications, power products, food processing, and other industries.

Products it manufactures range from fire helmets to Redbox retail kiosks.

MPE invests in profitable, lower middle market companies and has two primary target investment areas: high-value manufacturing and commercial and industrial services.

Matt Yohe, partner at MPE, said, “SPNC is an outstanding first acquisition for PCI as it addresses each of our areas of strategic focus for PCI’s inorganic growth in terms of expanding geography, technology, and markets.”

Headquartered in Germantown, Wisconsin, Plastic Components is a manufacturer of highly engineered and high-precision injection molded components using automation.

“SPNC has built an outstanding reputation for service, responsiveness, and quality as a partner in providing engineered solutions to its customer base,” said PCI CEO Derrill Rice in a statement. “SPNC significantly enhances the solution portfolio PCI can offer its customer base in terms of press tonnage, value added services, and short lot processing capabilities.”