Bloomer Plastics, a portfolio company of Huron Capital, has bought Optimum Plastics. No financial terms were disclosed. Based in Delaware, Ohio, Optimum Plastics is a provider of high barrier coextruded blown films.
DETROIT, Oct. 20, 2014 /PRNewswire/ — Huron Capital Partners (“Huron Capital”) announced today that its portfolio company, Wisconsin-based Bloomer Plastics, Inc., has acquired Delaware, Ohio-based Optimum Plastics. Bloomer Plastics is a leading producer of custom engineered cast embossed films for the industrial, medical and packaging markets, while Optimum Plastics is a technology leader and pioneer in high barrier coextruded blown films.
Matt Hare, Vice President at Huron Capital, said, “Optimum is a great fit with Bloomer, and this acquisition is right in line with Huron’s buy-and-build strategy of partnering with strong management teams and investing for growth.”
The combination of engineered blown film with Bloomer’s existing portfolio of custom designed cast film is directly aligned with its fundamental strategic initiatives and is core to the company’s growth plans. This is a significant move for Bloomer, as it will nearly double the revenue and employee base.
“We’re proud to welcome Optimum into the Bloomer Plastics family,” said Kevin Keneally, President and CEO of Bloomer Plastics. “Bob Clemons and his team have assembled the finest set of multi-layer high barrier film assets in the stand alone film market. We look forward to continuing their investment in state of the art technologies for our mutual valued customers.”
About Huron Capital Partners LLC
With offices in Detroit and Toronto, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through its customized ExecFactor(SM) 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 85 companies, and its portfolio companies have employed over 7,500 people throughout North America. Huron’s 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.
About Bloomer Plastics
Based in north central Wisconsin, Bloomer Plastics is a leading domestic and international engineered films producer for high performance industrial, medical, automotive and consumer market segments. The company excels in the design of value-added cast embossed film structures and laminations for the most demanding applications. Certified to ISO 9001:2008 standards, Bloomer Plastics is focused on offering exceptional speed to market for new product development and excels in delivering quality, service and technology to its valued customer base. Bloomer is a Huron Capital Partners portfolio company, owned in partnership with company management.