Injection molder Vital Plastics has been sold to private investment firm Wolverine Capital Partners for an undisclosed amount.
Headquartered in Baldwin, WI, Vital Plastics provides injection molding, assembly, and tooling services to a range of sectors. The company operates two facilities, manufacturing products such as automotive and window clips, industrial components, and medical parts for a number of Fortune 500 businesses across the United States, according to a news release on the Matrix Capital Markets Group website. (The private investment bank facilitated the transaction through its M&A advisory services to Vital Plastics.)
Over the past decade, leadership of Vital Plastics has transitioned from majority owner Terry Townsend to CEO George Hauser and President and CFO Matthew Fish, noted the news release. Hauser and Fish reportedly helped grow and modernize the company during that period, notably by implementing automation and reporting systems. Fish will continue as the lead of day-to-day operations.
Wolverine Capital's portfolio includes Baytech Plastics, an injection molder based in Midland, ON, and metal fabricator Burkland, located in Goodrich, MI.
“We are pleased to partner with the Wolverine Capital team,” commented Fish. “Of all the groups we interacted with, their team resonated most deeply with us given their straightforward approach and passion for building businesses. 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.”
