Katy Industries sold, renamed American Plastics

Maryland Heights-based cleaning and storage products manufacturer Katy Industries, which filed for bankruptcy earlier this year, has been sold and renamed American Plastics.

Chicago-based investment firm Victory Park Capital Advisors announced plans to acquire a majority interest in Katy Industries last August for $6.5 million.

Monday, Victory Park and Los Angeles-based Highview Capital LLC said they completed the acquisition of Katy’s assets. Robert Guerra, who was named Katy’s president and CEO last year, will lead American Plastics as president and CEO, the company said.

Katy had 300 employees as of Dec. 31 and six manufacturing and distribution facilities.

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