PE Deals

ICG-backed Seaway acquires manufacturer MME Group

Kirkland & Ellis served as legal counsel to ICG and Seaway while Alvarez & Marsal served as accounting and tax due diligence provider.

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  • Seaway is a provider of injection-molded engineered components
  • ICG acquired Seaway in June 2022
  • MME was founded in 1974

Seaway Plastics Engineering, which is backed by ICG, has acquired Minnesota-based MME Group, a provider of injection molding, engineering, tooling, and assembly for FDA-regulated medical and other regulated highly engineered products. No financial terms were disclosed.

Seaway is a provider of injection-molded engineered components.

ICG acquired Seaway in June 2022.

The combined company will now have over 240,000 square feet of manufacturing space across five facilities in Florida, California, and Minnesota.

MME was founded in 1974.

“Over its nearly 50-year history, MME has built deep relationships with a high-quality customer base and has demonstrated a strong track record of organic growth. We were impressed by how well MME’s business complements Seaway’s, and that synergy will help Tom and the management team smoothly integrate MME,” said Uzair Dossani, managing director of North American direct private equity at ICG, in a statement.

The transaction was finalized on September 30, 2022. Kirkland & Ellis served as legal counsel to ICG and Seaway while Alvarez & Marsal served as accounting and tax due diligence provider.