Heritage has completed a management-led equity recapitalization of EPTAM Plastics, a fabricator of machined plastic components. Partnering with Heritage are members of the EPTAM management team, led by President Jeff Hollinger.
“We welcome this partnership with Heritage, a firm that shares our commitment to building stakeholder value and has an excellent reputation as an equity partner for closely-held businesses,” said Mr. Hollinger. “They bring a deep experience base in precision components manufacturing. This expertise will enable us to maintain our current position as a market leader in precision machined plastic components as well as grow into important new market segments.”
EPTAM is a fabricator of machined plastic components for customers in the aerospace & defense, semiconductor, medical, industrial and power generation industries. The company uses high performance engineered plastics such as Delrin, Ultem, Radel, Torlon, Ertalyte, Acetron GP, Vespel, PEEK and carbon fiber filled materials that are stocked and machined for customers requiring close tolerances and consistent quality for CNC milling, turning, routing and sawing. EPTAM has a 60,000 sq. ft. manufacturing facility and is headquartered in Northfield, NH (www.eptam.com).
“We are very proud to invest alongside the EPTAM management team and are pleased to partner with them to continue the company’s long history of growth,” said Mark Jrolf, Managing General Partner at Heritage. “EPTAM has differentiated itself from competitors by building long-term, enterprise-level partnerships with its customers. We look forward to leveraging our experience in precision machining to expand the value EPTAM brings to these deep relationships.”
Heritage invests minority or majority equity in companies with minimum revenues of $30 million and at least $5 million of EBITDA. Sectors of interest include aerospace, business services, consumer products, distribution, education & training, food & beverage, healthcare & healthcare services, industrial & infrastructure, manufacturing, pet products & services, specialty chemical, and test & measurement. Heritage was founded in 2006 and is headquartered in Boston (www.newheritagecapital.com).
“The EPTAM management team has a long and impressive track record of achieving successful outcomes for its customers, and represents the type of passionate and entrepreneurial team we look to invest behind,” said Judson Samuels, Principal at Heritage.
Bigelow (www.bigelowllc.com) provided investment banking services to EPTAM. Choate, Hall & Stewart (www.choate.com) provided legal services to Heritage. Crescent Capital (www.crescentcap.com) and Bank of New Hampshire (www.banknh.com) provided the debt financing.
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-20-14