PMCF Announces the Sale of Blow Molder Hillside Plastics to Carr Management
Nov 09, 2015
Southfield, MI – October, 2015 – P&M Corporate Finance (PMCF) is pleased to announce that it served as the exclusive financial advisor to privately held Hillside Plastics, Inc. (“Hillside”) of Turners Falls, MA in its successful sale to Carr Management, Inc. (“CMI”), of Nashua, NH. CMI’s ownership includes its management team and Behrman Capital, of New York, NY.
Hillside (www.hillsideplastics.com) is a producer of blow molded containers, including the proprietary and industry standard Sugarhill® Pure Maple Syrup jug product line. Founded in 1967, Hillside has significantly grown and expanded under the ownership and leadership of the Haas family. Hillside manufactures and decorates standard and custom blow-molded HDPE and polypropylene containers used in food, chemical, household, automotive, and industrial markets from its purpose built facility. Hillside currently employs approximately 150 team members.
CMI (www.carrmanagement.com) is a specialized manufacturer of blow-molded, high-density polyethylene bottles for the dairy, water, food, industrial, and nutraceutical industries. Founded in 1999 and based in Nashua, New Hampshire, it offers a variety of large and small format containers as well as custom-design services from six manufacturing locations.
Peter Haas will continue in his role as President of Hillside. Kate (Haas) Colby, currently VP of Finance for Hillside, will be assisting through a transition period and then leaving the company to spend more time with her family. Commenting on the transaction Haas noted, “My family is confident that the decision to sell the business will enable further success and growth for the company in Turners Falls. Carr Management is a successful, well-managed, and growing company, with many similarities to Hillside, including a concern for the success of its employees, and a customer-centered, service-oriented business model. I look forward to continuing to help the company develop and grow in Turners Falls.”
Hillside selected John Hart and PMCF’s Plastics & Packaging Group to serve as exclusive financial advisor for the transaction. Haas noted, “We consider ourselves fortunate to have located and retained PMCF to represent our Company. They helped us prepare for and execute each step of a once in a lifetime transaction. They are clearly experts in our industry and we would highly recommend them to anyone considering a transaction in plastic packaging.”