Ontario Teachers’ Pension Plan (Teachers’) has signed an agreement to acquire Plano Molding Company, a supplier of outdoor sports storage systems. Teachers’ is making the acquisition through its private equity investment division, Teachers’ Private Capital.
“The Plano management team and I are extremely excited to be partnering with Teachers’,” said Tom Hurt, the company’s President and CEO. “Together we look forward to growing Plano’s heritage brands to their full potential and continuing our dedication to exceeding our customer expectations in product innovation, market leadership and world-class customer service. An exciting new journey has just begun for Plano, our valued associates and the many market leading brands under our umbrella. The Teachers’ partnership in Plano promises to yield more exciting opportunities than ever before.”
Plano manufactures tackle boxes, bait storage, gun cases, archery cases, and ice fishing products. It also produces cases for cosmetics, tools and crafts, as well as storage containers and shelving for home and office. The company was founded in 1932 and is based in Plano, IL (www.planomolding.com).
“Plano has exceptionally strong brands and product categories supported by attractive market characteristics. It also benefits from its long-standing relationships with top North American retailers,” said Jane Rowe, Senior Vice-President of Teachers’ Private Capital. “Plano’s proven management team has a record of solid organic growth and has strongly positioned the company to benefit from acquisition opportunities. We look forward to supporting their success.”
Teachers’ Private Capital is one of the world’s largest private equity investors, having participated as a long-term investor in numerous management buyouts in Canada, the United States and Europe. It is the private investment department of the Ontario Teachers’ Pension Plan, the largest single-profession pension plan in Canada. Teachers’ Private Capital is based in Toronto with offices in New York and London (www.teachersprivatecapital.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-28-12