Protective Closures Co. Inc., Buffalo, N.Y., has been purchased by a Buffalo investment group led by Sal Alfiero, former chairman of Fortune 500 Mark IV Industries.
Mokon, a manufacturer of chillers and circulating water- and oil-temperature control systems used in the plastics, chemical, food and die-casting industries, is one of two Protective Closure divisions. The other, Caplugs, manufactures molded products for product protection.
Stephen Pirrone will remain president of Protective Closures and Thomas Valentine and William Montague will continue as Mokon vice presidents. At least four of the acquiring group's members are former Mark IV employees or board members.