Evansville’s South Central Inc. Acquires Fibertech

(photo courtesy of Fibertech Inc.)

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Evansville-based South Central Inc. has entered into an agreement to acquire Fibertech Inc., a manufacturer of plastic products in the Warrick County town of Elberfeld. The company says the sale allows Fibertech founder Bill Scott to retire and provides growth opportunities and stability for the business and its employees.

JP Engelbrecht, South Central Inc. chief executive officer, has been named CEO of Fibertech Inc.

“Bill wanted to find a good steward for Fibertech who shared similar values, care for employees, and commitment to the community. South Central, Inc. and the Engelbrecht family check all of the boxes,” said Brent Rasche, chief operating officer of Fibertech, Inc.

This acquisition will further expand and diversify South Central’s portfolio of investments across multiple industries including real estate, addiction treatment, and private debt.

“Fibertech, Inc. is a solid company with a history of successful operations,” said Engelbrecht. “We are thrilled to help take this local business to the next level by investing in new production capacity, talent, and technology.”

Financial terms of the deal were not disclosed.