Divestiture • Plastics

Wingate Partners Acquires HC Companies

On February 18, 2015, private equity firm Wingate Partners acquired plastics company HC Companies from Myers Industries

Acquisition Context
  • This is Wingate Partners’ 1st transaction in the Plastics sector.
  • This is Wingate Partners’ 26th transaction in the United States.
  • This is Wingate Partners’ 2nd transaction in Ohio.
Investment Fate
  • HC Companies was sold to a consortium of financial buyers in 2023.

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M&A Deal Summary

Date February 18, 2015
Target HC Companies
Sector Plastics
Buyer(s) Wingate Partners
Sellers(s) Myers Industries
Deal Type Divestiture
Advisor(s) William Blair (Financial)

Target Company

HC Companies

Twinsburg, Ohio, United States
HC Companies is a provider of plastic plant, flower, and tree containers (horticulture containers) for the greenhouse, nursery, and retail markets under the brand names Dillen, ITML, ProCal, Listo, Akro-Mils Lawn & Garden, and Planters' Pride. HC Companies is based in Twinsburg, Ohio.
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Buyer Overview 1

Buyer

Wingate Partners

Dallas, Texas, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1987
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Wingate Partners is a turnaround investment firm that purchases controlling stakes in troubled manufacturing, distribution and service businesses headquartered in the US. Wingate looks to acquire under-performing companies, profitable businesses in changing or out of favor industries, and companies with incomplete management teams. Target businesses typically have revenues between $50 and $250 million. Wingate will not invest in banking, insurance, real estate, media, natural resources, and high technology. Wingate Partners was formed in 1987 and is based in Dallas, Texas.


Deal Context for Buyer #
Overall 26 of 27
Sector: Plastics 1 of 1
Type: Divestiture 2 of 2
State: Ohio 2 of 2
Country: United States 26 of 27
Year: 2015 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-03 Varsity Brands

Farmers Branch, Texas, United States

Varsity Brands provides goods and services to the school spirit industry. The company designs, markets, and manufactures cheerleading and dance team uniforms and accessories. It elevates the student experience, promotes participation, and celebrates achievement through three unique but interrelated businesses: BSN SPORTS; Varsity Spirit; and Herff Jones. Together, these businesses promote personal, school, and community pride through their customizable products and programs to elementary and middle schools, high schools, colleges and universities, church organizations, professional and collegiate sports teams, and corporations. Varsity Brands is based in Farmers Branch, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-01 Preferred Compounding

Copley, Ohio, United States

Preferred Compounding Corp. is a manufacturer and supplier of proprietary and custom mixed rubber compounds with manufacturing plants in Tallapoosa, Ga.; Huntingdon, Tenn.; Fruithurst, Ala. Preferred Compounding Corp. was founded in 1973 and is based in Copley, Ohio.

Sell -

Seller Profile 1

SELLER

Myers Industries

Akron, Ohio, United States

Category Company
Founded 1933
Sector Manufacturing
Employees2,500
Revenue 836M USD (2024)
DESCRIPTION

Myers Industries is a diversified, international plastics manufacturer of returnable packaging, storage and safety products and specialty molding. The Company is also the largest wholesale tire repair supply distributor in the United States. Myers Industries was founded in 1933 and is based in Akron, Ohio.


Deal Context for Seller #
Overall 2 of 2
Sector: Plastics 1 of 1
Type: Divestiture 2 of 2
State: Ohio 2 of 2
Country: United States 2 of 2
Year: 2015 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-03 Scepter

Scarborough, Ontario, Canada

Scepter is a producer of portable marine fuel containers, portable fuel and water containers and accessories, ammunition containers, storage totes and environmental bins.

Buy $157M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-26 Tuffy Manufacturing Industries

Cuyahoga Falls, Ohio, United States

Tuffy Manufacturing Industries, Inc. is a warehouse distributor of automotive and heavy-duty truck service-related parts, tools and accessories to tire dealers, retreaders and the trucking industry. Tuffy Manufacturing Industries was founded in 1964 and is based in Cuyahoga Falls, Ohio.

Buy -