Cleveland, OH, and Boston, MA – MPE Partners (“MPE” or “Morgenthaler Private Equity”), a preferred partner for entrepreneur- and family-owned companies, announced the sale of Lighthouse Holdco, Inc., the parent company of Plastic Components, Inc. (“PCI” or “the Company”) to Rosti US Corp., a subsidiary of Sweden-based Rosti Group AB (“Rosti”) which has state-of-the-art production sites strategically located across Europe and Asia. Headquartered in Germantown, WI, with additional locations in Cary, NC and Clearfield, UT, PCI is an innovative manufacturer of mission-critical, engineered plastic components.
Matt Yohe, Partner at MPE, remarked, “We have enjoyed our partnership with PCI and their impressive team over the past five years. During that time, PCI has transformed from a regional manufacturer to a nationwide platform by successfully completing two strategic add-on acquisitions, accelerating its organic growth, and tripling its employee base.”
Derrill Rice, CEO of PCI, commented, “Throughout our partnership, MPE was very supportive of our growth, investing in employee talent and increasing our operational capacity. Furthermore, MPE provided invaluable advice to enable our add-on acquisition growth strategy. We have enjoyed the partnership with MPE and are excited to capitalize on the foundation we have built together in PCI’s next chapter of growth with Rosti.”
“Our investment in PCI has been a successful example of MPE’s strategy to acquire family-owned, high-value manufacturing companies and invest in key areas of growth,” added Nick Stender, Vice President at MPE. “We believe this is an exciting combination which will allow the PCI and Rosti teams to collaborate to support their respective customers on a global basis.”
BakerHostetler served as legal advisor to MPE and PCI. Stout Capital, LLC acted as exclusive financial advisor. Terms of the transaction were not disclosed.
About Plastic Components, Inc.
Headquartered in Germantown, WI, PCI is an innovative manufacturer of mission-critical, engineered plastic components, using state-of-the-art scientific molding and process control technologies and an unparalleled level of automation. The Company has patented “lights out” process technology and is a nationwide platform with operating footprints in the Midwest, the Southeast, and the Mountain West. PCI serves a diverse set of technology-forward customers who are clear leaders in attractive growth-oriented end markets, such as plumbing, consumer, pool & aquatics, automotive technology, small engine, and medical. For more information, please visit www.plasticcomponents.com.
About MPE Partners
MPE Partners seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.