MPE Partners and Plastic Components, Inc. announce the acquisition of Sports Molding, LLC
CLEVELAND and BOSTON, August 4, 2021 / PRNewswire / – MPE Partners (“MPE” or “Morgenthaler Private Equity”) of Cleveland, Ohio and Boston, MA, together with portfolio company Plastic Components, Inc. (“PCI”) of Germantown, WI, announced today the acquisition of Sports Molding, LLC (“SMI” or “the Company”) of. known Clearfield, UT, a portfolio company of Sage Park, Inc. SMI is a leading ISO 9001: 2015 certified injection moulder providing a full range of design, manufacturing and value-added services to a variety of sectors including medical, industrial, recreational and consumer.
MPE and PCI engaged in the transaction with several members of the SMI management team under the direction of the CEO. teamed up Shane cave. Derrill rice, CEO of PCI, said, “SMI has demonstrated the ability to deliver technical solutions that exceed customer expectations. They have extensive manufacturing capabilities and will be a very welcome addition to the PCI family. We look forward to working with the current and valued customer base to grow, reach new customers, expand our presence in the western US, and enhance our product and service offering with the unique capabilities of SMI. ” Shane cave added: “We would like to say thank you Sage Park for his partnership over the past four years. Sage Park was instrumental in SMI’s transition from its roots to building an enterprise-class organization. The jointly built foundation will benefit our customers and partners for years to come. Looking to the future, PCI brings automation capabilities and operational know-how to our rapidly growing business. Our teams have a coherent cultural alignment that will help drive customer relationship growth, employee development, operational excellence and a commitment to dependable product quality. ”
BakerHostler acted as legal advisor to MPE. Stout Capital, LLC acted as investment banking advisor to SMI and Sage Park.
About Sports Molding, LLC
Located in Clearfield, UT, SMI is a developer and manufacturer of difficult to mold plastic components for a variety of end markets. The company’s differentiated technical capabilities make it the only source or preferred supplier for a high-profile customer base.
About Plastic Components, Inc.
Headquarters in Germantown, WI, Plastic Components, Inc. is a technology-oriented manufacturer of high-tech, high-precision injection molded components with unique automation of the manufacturing process. More information is available at www.plasticcomponents.com.
Via MPE partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) strives to be the preferred partner for entrepreneurial and family businesses. Based in Cleveland, Ohio, and Boston, MA, MPE invests in profitable lower middle class companies with transaction values of up to $ 250 million. MPE has two primary target investment areas: high quality manufacturing, and commercial and industrial services. More information is available at www.mpepartners.com.
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