Lee Equity Partners and BlackBern Partners have joined with plastics industry executive Brian Jones to form Westfall Technik.
Westfall Technik is led by Brian Jones, the former President and CEO of Nypro, a large custom injection molder. In addition to Mr. Jones, Perry Morgan is the company’s Chief Financial Officer and Rick Shaffer is a Managing Director. Westfall Technik is based near Phoenix in Chandler, AZ (www.westfall-technik.com).
“We are excited to support Brian and the team as they execute on their vision to create a market leading plastics solutions provider. We look forward to continuing their long-term track record of success in delivering high-performance results through Westfall Technik,” said Rahul “Billy” Nand, Partner at Lee Equity.
Concurrent with the formation of Westfall Technik, the company has completed its first acquisitions with the buys of Fairway Injection Molds and Integrity Mold.
Fairway Injection Molds is a manufacturer of multi-cavity injection molds. Products include single-face molds, stack molds, high-speed unscrewing molds, and multi-shot molds where multiple resins and/or colors are utilized. The company was founded in 1977 and is based near Los Angeles in Walnut, CA (www.fairwaymolds.com).
Integrity Mold, a portfolio company of Montage Partners since December 2015, is a manufacturer of plastic injection molded parts, integrated assemblies, and injection molding tool fabrication. The company’s customers are active in the medical, consumer durables, transportation and construction industries. Integrity Mold was founded in 2005 and is headquartered in Tempe, AZ (www.intmold.com).
“It is a great privilege to partner with Lee Equity in sponsoring Brian and his team’s ambitious business plan. It is equally rewarding to have well respected businesses like Fairway and Integrity share in the Westfall vision,” said Jonathan Bernstein, Managing Member at BlackBern Partners.
Lee Equity Partners focuses on control buyouts and growth capital financings, typically investing $50 million to $100 million of equity per transaction. Target companies have enterprise values of $100 million to $500 million and are located in the United States. Sectors of interest include business services; consumer and retail; distribution and logistics; financial services; healthcare services; and media. The firm is based in New York (www.leeequity.com).
BlackBern Partners invests in mature operating companies in the lower middle market. The firm was founded in 2010 by Ian Black and Jonathan Bernstein and is based in New York (www.blackbernpartners.com).
© 2017 Private Equity Professional | October 26, 2017