May 19/Buffalo-based Protective Industries announced Wednesday the acquisition of Niagara Plastics, an Erie, Pa., plastics company with annual revenue of $24 million.

Terms of the deal were not disclosed.

Protective Industries employs about 400 people at its Buffalo facilities making Caplug and Mokon brand plastic protective products. The company makes flange covers and other plastic caps and plugs.

Niagara Plastics makes a similar line of products.

Protective Industries was founded in May 2001 by former Mark IV Chairman Sal Alfiero after Mark IV was acquired by a European equity firm. Protective Industries then acquired the Caplug and Mokon lines from Mark IV.

The Niagara Plastics deal will bring Protective Industries annual revenue to about $65 million.

"Niagara Plastics is a complementary addition to Caplugs and Mokon. This purchase, which offers us significant synergies, will establish Protective Industries as the leader in the manufactured product protection segment of the plastics market," Alfiero said in a press release announcing the deal.