Matrix Capital Markets Group provided merger and acquisition advisory services to Vital Plastics, a manufacturer and assembler of injection molded plastic products, on its sale to Wolverine Capital Partners.
Headquartered in Baldwin, WI, Vital Plastics provides injection molding, assembly operations and tooling solutions to the transportation, industrial, consumer durable and building product sectors. Operating out of two facilities, totaling more than 65,000 combined square feet, the company manufactures products such as automotive and window clips, industrial components and medical parts, among others, for a blue chip customer base of numerous Fortune 500 entities located throughout the United States.
Over the past decade, leadership of the organization has transitioned from majority owner Terry Townsend to CEO George Hauser and president and CFO Matthew Fish. Hauser and Fish have been instrumental in helping grow and modernize the company during that period, including driving the implementation of automation and reporting systems. Fish will continue as the lead of day-to-day operations moving forward.
“We are pleased to partner with the Wolverine Capital team. Of all the groups we interacted with, their team resonated most deeply with us given their straightforward approach and passion for building businesses,” Fish said. “We are uniquely aligned in recognizing the attributes that have driven the company’s success: its loyal employee base and longstanding customer relationships, most of which date back multiple decades. We look forward to our next chapter of growth with Wolverine Capital.”
Matrix’s services in support of the sale included providing valuation advisory, marketing the business through a confidential and structured sale process, and handling the negotiation of the transaction. The transaction was managed by William O’Flaherty, managing director; David Shoulders, managing director and head of Matrix’s consumer and industrial investment banking group; Matt Oldhouser, CPA, senior associate; Sahan Pandey, senior analyst; and Hampton Massie, analyst.
“My partners and I were impressed by the level of commitment and sophistication that Matrix brought to the transaction,” Hauser said. “Their detailed knowledge of our specific industry, paired with their experience in transaction advisory, created tremendous value for us. We are extremely grateful for their efforts.”
“We are thrilled to have found such an excellent partner for Vital Plastics,” O’Flaherty said. “We congratulate Terry on building such an impressive business and commend George for the tremendous work he’s done as CEO to position the organization for the next phase of growth. We have no doubt that Matt will continue to find success as part of this new partnership given his commitment to providing world-class services to his customers.”
Brian Pitney and David Carroll of Sands Anderson served as legal counsel for Vital Plastics. Dykema Gossett served as legal counsel for Wolverine Capital.
