E-shots Web-exclusve: Plano Molding sells portion to investment firm

Shareholders at Plano Molding Co. (Plano, IL) closed a definitive agreement with Tinicum Capital Partners II LP on Feb. 26 to recapitalize the company in partnership with Plano's current management. Plano's chairman and CEO Peter Henning will retain a significant investment in the company and retain leadership. Tinicum will acquire a majority ownership interest in Plano from members of the Henning family who are not active in the company's management.

“Plano is a third-generation family business that included four other separate entities-the transaction involved the combination or roll-up of these entities,” says Dean Leffelman, corporate partner at Wildman Harrold, the attorneys representing Plano in the agreement.