Huron Capital Partners has merged portfolio companies Bloomer Plastics with Optimum Plastics. The newly combined company will retain the Optimum Plastics name and be led by Kevin Keneally, who will serve as CEO. Optimum Plastics will focus on developing more products in the plastics film market.
Detroit, Mich. – March 31, 2015 – Huron Capital Partners today announced that it has merged Wisc.-based Bloomer Plastics and Ohio-based Optimum Plastics to create more scale, resources and product range in the plastics film markets. The new company will retain the Optimum Plastics brand, maintaining the significant industry reputation that the business has established over the last 20 years. Optimum Plastics will be led by Kevin Keneally, formerly CEO of Bloomer Plastics, who will serve as CEO of the combined organization.
Bloomer Plastics, established in 1971, is a cast embossed film production company with a focus on customization and specialized engineering of value-added film and extrusion laminated structures. The company operates primarily in the automotive, aerospace, construction, healthcare, agriculture, office products and release liner markets. Optimum Plastics is a 3-layer and 9-layer blown film provider with a significant position in the packaging industry, as well as the automotive industry.
“The acquisition of Optimum Plastics in 2014 was an ideal first step as we looked to complement Bloomer Plastics and further Huron’s buy-and-build strategy of partnering with strong management teams as an investment for growth,” said Matt Hare, Vice President at Huron Capital. “We believe this combination will provide a significant market advantage and greatly expands their capabilities of providing cast or blown film products to customers.”
The new Optimum Plastics portfolio company generates over $100 million in annual revenue and is part of Huron Capital’s specialty manufacturing sector focus.
About Huron Capital Partners LLC
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through its customized Huron ExecFactorSM buy-and-build investment model. Huron prefers complex situations where it can help companies reach their full potential by combining its operational approach, substantial capital base and transaction experience with proven operating executives. Founded in 1999, Huron has raised over $1.1 billion in capital through four committed private equity funds, invested in over 90 companies, and its portfolio companies have employed over 7,500 people throughout North America. The Huron ExecFactorSM buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs and management buyouts of companies having revenues up to $200 million. Huron’s sector focus includes specialty manufacturing, business services, consumer goods & services, and healthcare. For more information, please visit www.huroncapital.com.