Grey Mountain Partners has acquired Dimex, a manufacturer of plastic extruded products. Brookside Mezzanine Partners provided subordinated debt and equity financing to support the acquisition.
Dimex is a manufacturer of plastic extruded products used in a variety set of end markets such as industrial matting, landscaping, marine products, masonry construction and office chair mats. Products are manufactured using polyethylene, rigid and flexible polyvinyl chloride or EPDM (ethylene propylene diene monomer) rubber. The company was founded in 1991 and operates a 200,000 square foot manufacturing facility at its headquarters in Marietta, OH (www.dimexcorp.com). Dimex is led by its CEO David Wesel.
“We are thrilled to partner with David and the Dimex leadership team,” said Jason Urband, Vice President with Grey Mountain. “The company is a leader in several end markets and has developed a reputation for quality products and unmatched customer service. We look forward to supporting the growth of the business organically and through strategic acquisitions.”
Grey Mountain Partners invests up to $75 million in control acquisitions of companies with enterprise values between $30 million and $150 million. Sectors of interest include aerospace & defense, building products & materials, business process outsourcing, diversified manufacturing, energy & power, financial services, food & beverage, healthcare services & technology, industrial services, packaging, professional services, specialty chemicals, technology, transportation & logistics, wholesale and distribution. Grey Mountain was founded in 2003 by Managing Partners Rob Wright and Jeff Kuo and is based in Boulder with an additional office in Minneapolis (www.greymountain.com).
Brookside Mezzanine Partners provides subordinated debt and minority equity to small and mid-sized companies. Target companies generally have trailing twelve month revenue of at least $15 million and EBITDA of at least $3 million. The firm was founded in 2001 and has offices in Stamford, CT and Boston, MA (www.brooksidemezzanine.com).
“Dimex has a strong team of talented employees and everyone is extremely excited about the company’s future. Grey Mountain’s financial and operational support will allow us to continue to grow the company and maintain our outstanding customer service,” said Dimex’ CEO David Wesel.
© 2014 PEPD • Private Equity’s Leading News Magazine • 2-3-14
