Cleveland, OH and Boston, MA – MPE Partners (“MPE” or “Morgenthaler Private Equity”) of Cleveland, OH and Boston, MA, along with portfolio company Plastic Components, Inc. (“PCI”) of Germantown, WI, today announced the acquisition of Sports Molding, LLC (“SMI” or “the Company”) of Clearfield, UT, a portfolio company of Sage Park, Inc. SMI is a leading ISO 9001:2015 certified injection molder offering a full suite of design, manufacturing, and value-added services to a diverse range of sectors, including medical, industrial, recreation, and consumer.
MPE and PCI partnered in the transaction with several members of the SMI management team, led by CEO Shane Cave. Derrill Rice, CEO of PCI, said, “SMI has demonstrated the ability to deliver engineered solutions that exceed customer expectations. They have full-service manufacturing capabilities and will be a very welcome addition to the PCI family. We are looking forward to working together to support growth with the current and valued customer base, target new customers, expand our presence in the western US, and enhance our product and service offerings with SMI’s unique capabilities.” Shane Cave added, “We would like to thank Sage Park for its partnership over the past four years. Sage Park was instrumental in transitioning SMI from its roots to building an enterprise-class organization. The foundation that we built together will benefit our customers and partners for years to come. Looking forward, PCI brings automation capabilities and operational expertise to our rapidly growing business. Our teams have a cohesive cultural alignment that will help drive growth in customer relationships, employee development, operational excellence, and commitment to reliable product quality.”
BakerHostetler served as legal advisor to MPE. Stout Capital, LLC acted as the investment banking advisor to SMI and Sage Park.
About Sports Molding, LLC
Located in Clearfield, UT, SMI is a designer and manufacturer of tough-to-mold plastic components for a variety of end markets. The Company’s differentiated technical capabilities sets it apart as the sole source or preferred supplier for a highly distinguished customer base.
About Plastic Components, Inc.
Headquartered in Germantown, WI, Plastic Components, Inc. is a world-class, technology-driven manufacturer of highly engineered and high precision injection molded components using unique manufacturing process automation. For more information, please visit www.plasticcomponents.com.
About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) 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.
Media contact:
Matt Yohe
myohe*AT*mpepartners.com