PE-backed CMI buys EPS

CMI, which is backed by Capital Partners, has acquired Elgin, Illinois-based Engineered Plastic Systems, a maker of a high-density polyethylene board.

CMI, which is backed by Capital Partners, has acquired Elgin, Illinois-based Engineered Plastic Systems, a maker of a high-density polyethylene board. No financial terms were disclosed. SLATE Partners advised EPS on the transaction.

PRESS RELEASE

DENVER – SLATE Partners (SLATE) announced that its Principals advised Engineered Plastic Systems (EPS) on its sale to CMI, a portfolio company of Capital Partners.

Founded in 2000 and headquartered in the Chicago suburb of Elgin, Illinois, EPS engineers and manufactures high-density polyethylene (HDPE) board used in a variety of applications, primarily decking, railing, and park products, among others. EPS markets its products under the Lumberock, Bear Board, and Perennial Park Products brands and its products are known for their superior performance in marine-based environments. The Company serves customers across a variety of residential and non-residential end markets throughout all 50 states and internationally on a select basis. EPS fulfills sales directly through its online sales channel and sales team, as well as through its distributor and dealer networks.

Jack Joyce, Manager of EPS, remarked, “We interviewed several advisory firms and chose SLATE for their experience in the building materials sector and the professionalism they portrayed. Having worked with the SLATE team for the past several months, I can attest that they brought the professionalism along with the experience necessary to sell our business. I cannot say enough about the support that we received in every step of the process, including negotiating a transaction that met the goals of our partnership group and delivered a great steward of our business in CMI.”

Natalie Asher, Director at SLATE Partners, commented, “For over 20 years, EPS has been at the forefront as the building products industry increasingly turns toward products made from alternative and green materials. EPS has strong and supportive partners in CMI and Capital Partners, and the combined companies will be able to offer their customers a wider portfolio of sustainable solutions and greater access throughout the country. We wish both companies the best as they embark on this new partnership.”

EPS received legal representation in the transaction from Horwood Marcus & Berk Chartered, consulting advisory from Kona Advisors, LLC, and accounting advisory from Riveron Consulting, LLC.

About SLATE Partners
SLATE Partners is a boutique investment banking firm with the exclusive mission to provide mergers and acquisitions advisory services to building materials and building services companies nationwide. This includes manufacturers, distributors, and producers of both natural and manufactured building materials, as well as building services companies such as architects, engineers, specialty contractors, and facilities services providers.