M&A Deal Summary

Prospect Partners and North American Funds Acquire Polymer

On January 6, 2009, private equity firms Prospect Partners and North American Funds acquired plastics company Polymer

Acquisition Highlights
  • This is Prospect Partners’ 2nd and North American Funds’ 1st transaction in the Plastics sector.
  • This is Prospect Partners’ 34th and North American Funds’ 7th transaction in the United States.
  • This is Prospect Partners’ 4th and North American Funds’ 1st transaction in Massachusetts.

M&A Deal Summary

Date 2009-01-06
Target Polymer
Sector Plastics
Buyer(s) Prospect Partners
North American Funds
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Verit Advisors (Financial)

Target

Polymer

Rockland, Massachusetts, United States
Polymer is a niche manufacturer of low-volume, close-tolerance plastic partners and assemblies for a diverse nationwide group of blue-chip companies primarily in three niche market segments — medical equipment and instrumentation; firearms components and accessories; and defense, security, and aerospace. Polymer was established in 1979 and is based in Rockland, Massachusetts.

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Buyer(S) 2

Buyer

Prospect Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 470M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Partners, LLC is a lower middle-market private equity firm that focuses on management buyouts and recapitalization of small companies. Prospect looks to invest $2 to $30 million of equity capital in companies with revenues of $15 to $100 million and EBITDA up to $10 million. The Firm targets opportunities in a variety of sectors spanning many sub-sectors of manufacturing, specialty distribution, and service. Transactions of interest include leverage recapitalizations, industry consolidations, corporate orphans, generational sales, under-managed companies, and backing independent equity sponsors. Prospect Partners was formed in 1998 and is based in Chicago, Illinois.


DEAL STATS #
Overall 34 of 58
Sector: Plastics M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 16 of 19
State: Massachusetts M&A 4 of 6
Country: United States M&A 34 of 58
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-14 Adventure Ready Brands

Littleton, New Hampshire, United States

Adventure Ready Brands is a manufacturer, marketer, and distributor of popular personal care and outdoor products sold to consumers through various retail channels, including food, drug and mass merchandisers, outdoor and sporting goods stores, and promotional product distributors. Adventure Ready Brands was founded in 1975 and is based in Littleton, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-26 CoAMS

Chicago, Illinois, United States

CoAMS, Inc. is a marketing services and business process outsourcing firm specializing in cooperative advertising and trade promotion programs.

Sell -
Buyer

North American Funds

Chicago, Illinois, United States

Category Private Equity Firm
Founded 1989
Size Small
Type Sector Agnostic
DESCRIPTION

North American Funds LLC (Formerly North American Business Development Companies LLC) are a collection of investment vehicles focused on acquiring or making significant investments in smaller and lower middle-market growth-oriented companies. North American targets profitable companies generating sales of $5 to $40 million and EBITDA of $500K to $5 million. Sectors of interest include manufacturing, food/beverage, medical services, consumer products/services, distribution, business services, education, and financial services. The fund partnerships are managed by the North American Business Development Companies. North American Funds was formed in 1989 and maintains offices in Chicago, Illinois and Fort Lauderdale, Florida.


DEAL STATS #
Overall 7 of 7
Sector: Plastics M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 7 of 7
State: Massachusetts M&A 1 of 1
Country: United States M&A 7 of 7
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-10 Culinary Standards

Louisville, Kentucky, United States

Culinary Standards producer of cooked-then-frozen prepared foods for the foodservice industry including hot delis and the national school lunch program. Principal product lines include entrees, side dishes, sauces and soups.

Sell -