P&M Corporate Finance (PMCF) Announces Sale of Leading Plastic Sheet Extruder Bloomer Plastics
Southfield, MI – P&M Corporate Finance is pleased to announce that it served as exclusive financial advisor to Bloomer Plastics, Inc. (Bloomer), a privately held business in Bloomer, Wisconsin, in its successful sale to private equity investor Huron Capital Partners LLC (Huron). The transaction, and Huron’s partnership with Bloomer's management, will provide significant capital to fund Bloomer's ambitious national expansion plans and broaden its product development and customer service capabilities.
Bloomer is a leading producer of engineered films for use in high performance industrial, medical, and consumer end markets. The Company’s business model centers around a focus on custom engineering and quality service to successfully manufacture films ideally matched to customers' needs. Bloomer’s films, with stock or custom embossing options, can be manufactured from nearly any material including Polyethylene, Polypropylene, Nylon, and specialty engineered resins. The Company services a broad national and international customer base.
Neil Lundgren, President and General Manager of Bloomer, commented on the partnership, "For forty-one years, we have built a highly-responsive custom films business focused on exceeding our customer’s needs. We are excited about our new partnership with Huron and we are confident that Huron will be a valuable partner for our employees and for our business' pursuit of organic growth initiatives and business acquisitions."
Bloomer’s management team and shareholders selected PMCF’s Plastics & Packaging Group, led by John Hart, to conduct an international sale process for the Company. The Company’s goals were to secure a partner to support Bloomer’s growth strategy including adding capacity and expanding into new markets and products. Lundgren noted, “PMCF’s plastics and packaging expertise, thorough presentation of our business, and highly structured sale process allowed our team to carefully assess, qualify, and select the best partner for our business. This transaction represents a significant positive milestone in our Company’s history and employee’s careers, and PMCF was there to support us every step of the way.”
PMCF facilitated discussions and negotiations with a range of potential strategic and financial parties in a process that ultimately resulted in a successful transaction with Huron, which closed June 8, 2012.
About P&M Corporate Finance
P&M Corporate Finance is a middle market investment bank providing merger and acquisition advisory 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, medical technology, industrials, and business services industries. PMCF has offices in Chicago and Detroit and around the globe via its Corporate Finance International affiliates.