P&M Corporate Finance Announces the Acquisition of Creative Forming, Inc. by Spartech Corporation
Southfield, MI — P&M Corporate Finance, LLC (“PMCF”) is pleased to announce that it served as exclusive financial advisor to Spartech Corporation in its $61 million acquisition of Creative Forming, Inc. from private equity firm Mason Wells. Creative Forming designs and produces value-added packaging solutions primarily for the food, consumer product, produce, and medical/pharmaceutical markets from its 160,000 square foot facility in Ripon, Wisconsin.
This acquisition was highly strategic and further expanded Spartech’s product offering and capabilities in serving the packaging market. “Creative provides key technologies to the packaging market and a strong management team to complement Spartech’s resources serving this growth market. The Creative acquisition provides the catalyst to focus several of our operations on developing new business and increasing our services to the packaging market,” said Spartech’s interim Chief Executive Officer Randy Martin. The Ripon facility will combine efforts with five existing Spartech facilities to form a packaging technologies business.
P&M Corporate Finance served as financial advisor to Spartech, assisting with the identification of the acquisition opportunity, performing financial analysis and supporting the negotiation of key purchase terms. The acquisition closed September 14, 2007 and is expected to be accretive for shareholders.
About Spartech Corporation
Spartech Corporation is a leading producer of engineered thermoplastic sheet materials, polymeric compounds and concentrates, and engineered product solutions. The Company has facilities located throughout the United States, Canada, Mexico, and Europe with sales of approximately $1.5 billion, annually.
About P&M Corporate Finance, LLC
P&M Corporate Finance, LLC is a boutique investment bank providing middle-market merger and acquisition services to companies in North America and Europe. PMCF provides a broad range of services including sale advisory, acquisition advisory, capital raising and strategic advisory. The firm has dedicated industry teams providing services to the plastics and packaging, metals, life sciences, business services, and building products industries. PMCF has offices in Chicago, Cleveland, and Detroit.