Mesirow Financial was the exclusive financial advisor to Precision Products Group on its recent sale to Long Point Capital and Greyrock Capital Group.
“Mesirow Financial was instrumental in identifying a strong group of strategic and financial prospective buyers and conducting an effective transaction process. Our customers and employees will both benefit as Long Point Capital, Greyrock Capital Group and Precision Products Group join forces and continue to grow the Company’s product offering, end market span and geographical reach,” said Dave Hooe, president and CEO of PPG. “Mesirow Financial’s advice throughout the process resulted in a successful outcome for all parties involved.”
Precision Products Group is a manufacturer of customized small diameter paper and plastic tubes used in a variety of niche applications requiring tight tolerances, unique materials, performance attributes, or difficult to produce shapes. Industries served include the electrical insulation, specialty packaging, consumer products, medical, and military markets. Precision Products Group is headquartered in College Park, MD (www.ppgintl.com).
“We were honored to represent the shareholders of Precision Products Group in this process. PPG is an innovative and highly reputable manufacturer of paper and plastic tubing,” said Jeff Golman, vice chairman and head of Mesirow Financial’s Investment Banking group.
Mesirow Financial’s Investment Banking group focuses exclusively on middle-market transactions and serves middle-market companies and large corporations, both public and private, in merger and acquisition advisory, capital markets advisory, restructuring and special situations, fairness and solvency opinion, board of directors advisory and special committee representation. Overall, Mesirow Financial is a diversified financial services firm with particular expertise in investment management, global markets, insurance services and consulting. Founded in 1937, Mesirow is an independent, employee-owned firm with more than 1,200 employees in offices across the US and in London, UK. The firm is headquartered in Chicago (www.mesirowfinancial.com).
“Mesirow Financial’s strong experience and relationships within the niche manufacturing industry allowed us to pair PPG with knowledgeable financial sponsors that are committed to growing the company,” said Rocky Pontikes, managing director of Mesirow Financial.
Long Point Capital invests in companies with manufacturing, distribution, and service companies with revenues of $30 million to $200 million and at least $5 million of EBITDA. The firm has offices in Royal Oak, MI (near Detroit) and New York (www.longpointcapital.com).
Greyrock Capital Group provides mezzanine debt and equity to finance buyouts, recapitalizations and internal growth needs of middle-market companies. Greyrock provided $8.0 million of subordinated debt and equity to support Long Point Capital’s acquisition of Precision Products Group. Greyrock has offices in San Francisco, Chicago and Wilton, CT (www.greyrockcapitalgroup.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-16-13
