Charlesbank Capital Partners, LLC today announced that its affiliates have sold their interests in Plaskolite to PPC Partners, a middle-market private equity firm. Plaskolite is North America’s largest manufacturer of transparent thermoplastic sheet products, with a focus on customized, niche products for a wide variety of applications. Terms of the transaction were not disclosed.
Charlesbank acquired Plaskolite, based in Columbus, OH, from the Dunn family in 2015. The family, which had controlled the company since its founding in 1950, retained a substantial ownership stake in the business. They will invest alongside PPC and other co-investors in the new transaction, and Plaskolite’s current management team will continue to lead the business.
Diversified across products, customers, end-markets and distribution channels, Plaskolite has the #1 market share in extruded acrylic and polycarbonate sheet. Its manufactured sheeting is used for applications such as storm windows, indoor and outdoor signage, point-of-purchase displays and industrial lighting.
Mitch Grindley, Plaskolite CEO, says, “I am very proud of what the management team has accomplished over the last few years and am grateful for the capital, support and encouragement from Charlesbank. Together we expanded Plaskolite’s reach and capabilities, organically and through four key acquisitions; added four manufacturing facilities and more than 25 extrusion lines; and doubled our employee base. Today our team is as strong as ever and ready for our next phase of growth.”
“We have greatly enjoyed partnering with Mitch and his talented team during this exciting period,” says Brandon White, Charlesbank Managing Director. “Over the past three years, Plaskolite acquired and integrated four large, scale assets to expand its addressable market and increase exposure to growth segments. The company also strengthened its market position, grew its team and, importantly, maintained its reputation for outstanding quality and service.”
Added Ryan Carroll, fellow Managing Director at Charlesbank, “Our partnership with this dedicated management team has yielded a rewarding investment for our investors and Charlesbank. We know Plaskolite is well-positioned for continued growth and we wish them ongoing success with PPC.”
Founded in 1950 in Columbus, Ohio, by Donald G. Dunn and family, Plaskolite, LLC is North America’s largest provider of transparent thermoplastic sheet products. The company’s customized products are used in a wide variety of applications, including windows, doors, lighting, signs, point-of-purchase displays and bath products. Plaskolite serves a diverse customer base including distributors, OEMs and retailers. For more information, visit Plaskolite.com
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $5 billion of capital. Charlesbank focuses on management led buyouts and growth capital financings and also engages in opportunistic credit investments. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.
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