Hammond, Kennedy, Whitney & Company (HKW) has sold its portfolio company Nyloncraft, a supplier of engineered plastic components for the automotive industry, to Dickten Masch Plastics. Nyloncraft had been a portfolio company of HKW since 2002.
Nyloncraft is an injection molding company supplying engineered plastic components for the automotive industry. The company is based in Mishawaka, IN with an additional facility in Jonesville, MI (www.nyloncraft.com).
Dickten Masch Plastics is a full-service plastics company with both thermoplastics and thermoset molding capabilities. DMP is headquartered in Nashotah, WI with additional facilities in Iowa and Mexico (www.DMPAdvantage.com).
“We are very pleased with the results of the Nyloncraft sale,” said Jeff Wood, HKW CEO and Chairman of Nyloncraft. “During our investment period, the Nyloncraft management team successfully negotiated the worst decline in the U.S. automotive industry of our generation. With strict financial controls and emphasis on new product introductions the team worked through the difficult market conditions and the company is operating at the best level in its history. We believe DMP and Nyloncraft will continue to build on this success and will have a great future together.”
Hammond, Kennedy, Whitney & Company invests in companies with revenues between $20 million and $200 million and EBITDAs between $2 million and $20 million. Over the past 29 years, HKW has completed 40 platform management buyouts of small middle-market companies throughout North America as well as 43 add-on acquisitions. The firm is headquartered in Indianapolis, IN with an additional office in New York, NY (www.hkwinc.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-12-12