Optimum Plastics is a producer of high barrier coextruded blown plastic films. The company is headquartered north of Columbus in Delaware, OH (www.optimumplastics.com).
Bloomer Plastics manufactures cast extruded plastic films for use in high performance industrial, medical, and consumer applications. The company’s products are custom-engineered for specific customer needs and support a variety of material blends, colors, sizes, gauges and emboss patterns. Bloomer supplies its products directly to its customers as well as through a network of distributors. The company is based east of Minneapolis in Bloomer, WI (www.bloomerplastics.com).
According to Huron Capital, the combination of Optimum’s engineered blown film with Bloomer’s existing portfolio of custom designed cast film is directly aligned with its strategic initiatives and is core to the company’s growth plans. In fact, the acquisition of Optimum will nearly double the revenue and employee base of Bloomer. “Optimum is a great fit with Bloomer, and this acquisition is right in line with Huron’s buy-and-build strategy of partnering with strong management teams and investing for growth,” said Matt Hare, Vice President at Huron.
Huron Capital Partners invests up to $70 million per transaction in middle market companies that have revenues up to $200 million and EBITDAs of $5 million or more. Sectors of interest include education & training, healthcare, specialty chemicals, specialty packaging, consumer products, home decor, business services, industrial manufacturing, food & beverage, and marketing services. The firm was founded in 1999 and currently manages over $1.1 billion in committed equity through four private equity funds. Huron Capital Partners has offices in Detroit and Toronto (www.huroncapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-21-14