M&A Deal Summary

Squire Ridge Company, JWI Capital and Tecum Capital Acquire Allegheny Performance Plastics

On April 15, 2016, private equity firms Squire Ridge Company, JWI Capital and Tecum Capital acquired plastics company Allegheny Performance Plastics from Allegheny Plastics

Acquisition Highlights
  • This is Squire Ridge Company’s 2nd, JWI Capital’s 1st and Tecum Capital’s 2nd transaction in the Plastics sector.
  • This is Squire Ridge Company’s 2nd, JWI Capital’s 3rd and Tecum Capital’s 34th transaction in the United States.
  • This is Squire Ridge Company’s 1st, JWI Capital’s 1st and Tecum Capital’s 16th transaction in Pennsylvania.

M&A Deal Summary

Date 2016-04-15
Target Allegheny Performance Plastics
Sector Plastics
Buyer(s) Squire Ridge Company
JWI Capital
Tecum Capital
Sellers(s) Allegheny Plastics
Deal Type Divestiture

Target

Allegheny Performance Plastics

Leetsdale, Pennsylvania, United States
Allegheny Performance Plastics is a preeminent injection molder of exotic and high-performance thermoplastics serving Fortune 100 customers. Allegheny Performance Plastics was founded in 1936 and is based in Leetsdale, Pennsylvania.

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Buyer(S) 3

DESCRIPTION

Squire Ridge Company is a private investment firm that seeks both controlling and non-controlling stakes in privately held niche manufacturing, value-added distribution and select service companies. The Firm generally pursues platform opportunities throughout the Midwest US but will consider add-on opportunities throughout North America. Prospective transaction situations include recapitalizations, management-led buyouts, and underperforming, but fundamentally solid companies. Squire Ridge Company was formed in 2013 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 2 of 4
Sector (Plastics) 2 of 2
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 2 of 4
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-01 Dutchland Plastics

Oostburg, Wisconsin, United States

Dutchland Plastics is a provider of custom rotational molding services and related secondary operations to a wide range of customers across a diverse cross section of markets including, but not limited to, recreational equipment, industrial equipment, and lawn and garden. Dutchland Plastics was founded in 1967 and is based in Oostburg, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-03 Dutchland Plastics

Oostburg, Wisconsin, United States

Dutchland Plastics is a provider of custom rotational molding services and related secondary operations to a wide range of customers across a diverse cross section of markets including, but not limited to, recreational equipment, industrial equipment, and lawn and garden. Dutchland Plastics was founded in 1967 and is based in Oostburg, Wisconsin.

Sell -
Buyer

JWI Capital

Twinsburg, Ohio, United States

Investor Investor


Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

JWI Capital is a 'hands on' investment firm focused on microcap businesses operating in Northeast Ohio and neighboring regions. The Firm takes an operationally focused approach in actively managing and improving the growth of portfolio investments. JWI's ideal acquisition target has revenues of $5 to $50 million and EBITDA between $1 and $5 million. The Firm looks for opportunities in the defense, aerospace, energy, infrastructure, transportation and general industrial sectors. JWI Capital was formed in 2009 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 3 of 4
Sector (Plastics) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 3 of 4
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-02 Louver Shop

Gainesville, Georgia, United States

Louver Shop is a provider of custom shutters and other window coverings throughout the Southeastern United States. The Company manufactures all of its products domestically in a 70,000 square foot plant in Dahlonega, GA, and produces more panels than any other domestic shutter company. Louver Shop was founded in 1972 and is based in Gainesville, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-19 Enviroscience

Stow, Ohio, United States

Enviroscience provides biomonitoring, environmental compliance, restoration, and commercial diving services to federal, state, and municipal governments, the power industry, manufacturing, and private clients throughout the U.S. and Canada. Enviroscience was founded in 1988 and is based in Stow, Ohio.

Buy -
Buyer

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 34 of 82
Sector (Plastics) 2 of 2
Type (Divestiture) 3 of 5
State (Pennsylvania) 16 of 26
Country (United States) 34 of 82
Year (2016) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-04 HoodMart

Elyria, Ohio, United States

HoodMart specializes in the design, manufacture and sale of ventilation systems (exhaust hoods) for the large and growing commercial cooking industry. HoodMart is based in Elyria, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-06 Ohio Travel Bag

Solon, Ohio, United States

Ohio Travel Bag is a wholesale distributor of specialized components, fittings, and parts used by customers in the manufacturing or repair of leather goods, handbags, luggage, upholstery, and horse tack products. Ohio Travel Bag was founded in 1908 and is based in Solon, Ohio.

Buy -

Seller(S) 1

SELLER

Allegheny Plastics

Leetsdale, Pennsylvania, United States

Category Company
Sector Plastics
DESCRIPTION

Allegheny Plastics, Inc. is a manufacturer of precision injection molded parts for equipment manufacturers. Allegheny Plastics is based in Leetsdale, Pennsylvania.


DEAL STATS #
Overall 1 of 1
Sector (Plastics) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1