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MPE Acquires Plastic Components

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MPE Partners has acquired Plastic Components, a manufacturer of injection molded components used in the plumbing, small engine, automotive, filtration and other end markets.

Plastic Components (PCI) was founded in 1989 in a 10,000 sq. ft. facility with 3 molding presses. Today, the company has two facilities with a combined 78,000 sq. ft., over 80 fully-automated molding presses, and ships over 25 million parts per month to customers all over the world. PCI is headquartered north of Milwaukee in Germantown, WI (www.plasticcomponents.com).

MPE Partners (formerly Morgenthaler Private Equity) acquired the company in partnership with owner and CEO, Tom Duffey, and other members of the company’s senior management team. “We were very selective in choosing an investment partner for PCI and believe MPE will be a great steward for the company.  MPE will bring capabilities, resources, and capital to PCI to support our next chapter of growth,” said Mr. Duffey.

“Since its founding, PCI has developed a reputation for innovation, superior quality, collaborative technical support, and exceptional customer service,” said Karen Tuleta, a Partner at MPE.

MPE Partners invests in lower middle market companies that are valued from $25 million to $150 million and have EBITDAs between $5 million and $20 million. Sectors of interest include high-value manufacturing and industrial services. The firm has offices in Cleveland and Boston (www.mpepartners.com).

Stout Risius Ross (www.srr.com) was the financial advisor to PCI.

© 2017 Private Equity Professional | March 17, 2017

CCMP Capital Advisors Acquires Mold-Masters

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Milacron, a plastics processer and a provider of fluids to the metalworking and packaging industries and a portfolio company of CCMP Capital Advisors, has acquired Mold-Masters, a provider of hot runner technology and systems.  Under the terms of the transaction, Milacron will acquire 100% of the shares of Mold-Masters for an enterprise value of C$975 million. The transaction is expected to close in the first half of 2013. 

“This transaction is a major step in Milacron’s strategic growth plan which reinforces our support of the company’s exciting prospects and our commitment to leveraging our extensive experience in the plastics industry to help Milacron maximize its global market opportunities and increase its value to customers,” said Tim Walsh, a Managing Director of CCMP Capital Advisors.

Mold-Masters is a supplier of hot runner technology and systems. A hot runner system is an assembly of heated components used in plastic injection molds that inject molten plastic into the cavities of the mold. The company designs, manufactures and supports a full range of hot runner products, including hot runner systems, temperature controllers, hot halves and gating technologies. The company has manufacturing facilities in North America, South America, Europe, India and Asia.  Mold-Masters was founded in 1963 and is based in Georgetown, Ontario (www.moldmasters.com). 

Milacron manufactures and supplies a range of machinery and turnkey systems through its two key business areas—plastics-processing technologies and metalworking fluids.  The company’s business units include Milacron Plastics Machinery, Ferromatik Milacron, DME, Uniloy, Milacron Americas Aftermarket, and CIMCOOL Fluid Technology.  Milacron has 22 facilities and over 2,700 employees.  The company is based in Cincinnati (www.milacron.com). 

Tom Goeke, Chief Executive Officer of Milacron will lead the combined entity and Bill Barker, President and CEO of Mold Masters, will continue to lead that business. 

“The acquisition creates a global leader in the plastics industry with the scale, technological leadership, international presence and competitive positioning to deliver a wide range of products and services to more customers in more markets around the world,” said Mr. Goeke.

“Mold-Masters’ expertise in the high-growth hot-runner market is second to none, and we are excited by the unique customer value proposition and numerous opportunities for growth that will result from this combination.  Bill Barker, his management team and all of his employees share our commitment to excellence. We are thrilled that they will continue to lead the Mold-Masters business going forward and are excited to welcome them to our team.” 

© 2013 PEPD • Private Equity’s Leading News Magazine • 2-12-13

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