Plastics M&A Update – September 2025

Plastics Industry M&A Activity Tracking

Global Plastics M&A activity rebounded in September after August posted the year’s lowest monthly volume. 33 transactions were announced in the month, slightly below the year-to-date average despite the month-over-month increase. Weaker private equity platform activity was a key contributor to soft transaction volume while private equity add-on and strategic buyers were in-line with or above 2025 averages. Notably, M&A announcements in the Medical and Consumer end markets matched 2025 monthly highs and drove deal volumes in September. Through three quarters, Global Plastics M&A remains steady and is on track to outpace prior year levels.

• The Machinery and Rubber/Composite market segments, which are included in the Specialty subsector, each had four deal announcements in the month. This represents the most active month in 2025 for these segments. The Film subsector posted one deal for a second consecutive month after recording 29 deals in the first seven months of the year
• 55% of the activity was attributable to Strategic buyers in September, in line with year-to-date trends. Add-on volume dominated Financial buyer participation, contributing 12 of the 15 private equity deals announced in the month
• 19 deals involving a foreign buyer and seller were announced in September, representing a majority of the transactions. Cross border activity only attributed two deals in the month, while the 12 deals between a U.S. acquirer and target represented below average activity
• The 16 deals recorded in the Industrial end market marked a new low in 2025. Meanwhile, transaction volume in the Medical and Consumer end markets matched 2025 monthly highs and accounted for eight and six deals, respectively. Despite the pull-back in activity, Industrial deals still comprise 60% of the year-to-date M&A activity

Sources: S&P Capital IQ, Company Websites, Pitchbook, Company Reports, PMCF

Major News​

• Federal Agencies Retain ‘Keen Interest’ in Microplastics Research (Plastics News)
  https://www.plasticsnews.com/news/federal-science-leader-points-keen-interest-expanding-microplastics-research
• US Imposes Full Tariffs on PET, Recycled PET Imports from Asia (Plastics News)
  https://www.plasticsnews.com/news/us-imposes-tariffs-pet-rpet-imports-asia-india-vietnam-among-affected-countries
• California Names Companies Expected to Report Emissions, Climate Risks (Packaging Dive)
  https://www.packagingdive.com/news/california-air-resources-board-reporting-requirements-list-sb253-sb261/761137/
• Industry Report: The Good, the Bad, and the Uncertain? (PlasticsToday)
  https://www.plasticstoday.com/legislation-regulations/tariffs-interest-rates-mold-plastics-industry
• Trump’s Team Explores Government-Backed Manufacturing Boost (The Wall Street Journal)
  https://www.wsj.com/politics/policy/trump-manufacturing-federal-land-ef3c02ba?mod=trade_more_article_pos21
• Powell Describes Rates as ‘Modestly Restrictive,’ Keeping Door Open to Cuts (The Wall Street Journal)
  https://www.wsj.com/economy/central-banking/fed-chair-jerome-powell-speaks-rate-cuts-397ac3f7?mod=central-banking_more_article_pos41