Squadron Capital LLC has acquired Waterbury, Connecticut-based Forum Plastics Inc, a maker of thermoformed medical plastic products. No financial terms were disclosed. P&M Corporate Finance advised Squadron on the transaction.
CHICAGO and SOUTHFIELD, Michigan, June 10, 2016 /PRNewswire/ — P&M Corporate Finance (PMCF) is pleased to announce that it served as the exclusive financial advisor to Squadron Capital LLC (“Squadron”) in its acquisition of privately held Forum Plastics, Inc. (“Forum” or the “Company”), of Waterbury, CT. Financial terms of the transaction were not disclosed.
Founded in 2008, Squadron (sqdncap.com) is an investment vehicle funded by a Chicago-based trust and led from its headquarters near Hartford, Connecticut. Squadron seeks to acquire and invest in operating companies located both in the US and abroad and has an investment focus on developers and manufacturers of orthopedic medical devices, implants and surgical instrumentation.
Forum (www.forummolding.com) is a manufacturer of high quality sterile-ready and non-sterile thermoformed medical plastic products. Founded in , the Company specializes in components and assemblies with complex geometries essential to the operation of medical devices or complex commercial products. The majority of Forum’s projects are in support of current and next-generation minimally invasive surgical devices including endoscopic access ports and filters, vein harvesting devices, vascular infusion delivery systems, and cardiac catheter insertion devices.
Squadron Capital President, David Pelizzon said: “Forum differs from most molders by focusing exclusively on the most critical portions of a device where its expertise in mold engineering and state-of-the-art molding processes are critical to the success of our customers’ projects. The Forum leadership team built a tremendous business and we are delighted that our long-term (multi-generational) investment horizon aligned with their transaction objectives. We look forward to partnering with the Forum team and leveraging the resources of Squadron companies to execute their long-term business plan for the Company.”
PMCF initiated this transaction. Pelizzon added, “We have worked closely with PMCF over a number of projects and value their insight and expertise in the medical manufacturing and broader medical technology industries.”
Reed Smith LLP served as legal counsel to Squadron.
PMCF is a middle market investment bank providing global merger and acquisition advisory services to private, public, and private equity owned companies. PMCF provides a broad range of services including sale advisory, acquisition advisory, capital raising, and strategic advisory. The firm has dedicated industry teams providing services to the medical technology, plastics and packaging, industrials, and business services industries. PMCF has offices in Chicago and Detroit and around the globe via its Corporate Finance International associates. For more information, visit www.pmcf.com.