P&M Corporate Finance (“PMCF”), a leading middle market investment bank, is pleased to announce that it served as exclusive financial advisor to Allied Plastics, LLC. (“Allied” or the “Company”) on its sale to an affiliate of All-State Industries (“All-State”), a portfolio company of Blue Sage Capital (“Blue Sage”).
Based in Twin Lakes, Wisconsin, Allied is a thermoformed plastics manufacturer specializing in medium-to-heavy-gauge thermoformed plastic components for agriculture and heavy equipment OEMs, consumer products, and packaging/dunnage industries. Under the leadership of its founders, Tim Neal and Steve Wieder, Allied Plastics has grown to become one of the leading thermoformed plastics manufacturers within its markets due to its best-in-class design resources, vertically integrated extrusion capabilities, and product quality standards.
“All-State is the ideal partner that we were looking for, and this partnership will provide the resources and scale that will allow both Allied and All-State to continue to deliver the highest level of service and product quality to our customers,” said Tim Neal, President and Co-founder of Allied Plastics. Both Tim Neal and Steve Wieder will continue to lead the Allied business under the All-State platform.
The Allied shareholders selected PMCF’s Plastics & Packaging Group to serve as their exclusive financial advisor/investment banker in the transaction. “We’ve known John Hart and PMCF for many years; John is clearly an expert in the plastics industry and in helping owners like Steve and myself through a once in a lifetime transaction like this. We are very pleased with the transaction outcome and PMCF’s guidance throughout the process,” said Tim Neal.
Allied’s other owner Steve Wieder commented, “I appreciated the way PMCF utilizes their senior bankers to lead transactions. John was heavily involved from start to finish and always very responsive. I was also impressed with their knowledge of the plastics industry and our specific segment. Tim and I would highly recommend PMCF to other plastics businesses considering a transaction.”
Also commenting on the transaction was John Hart, Managing Director and Leader of PMCF’s Plastics & Packaging Group. “We were proud to represent Allied Plastics in this transaction. Tim and Steve, along with their highly talented group of employees, built a special company in thermoformed plastics that I’ve been fortunate to watch grow substantially over the last seven years. It was an honor to work with such a great company and ownership group and lead them through this major milestone.”
Quarles and Brady LLP served as legal advisor to Allied Plastics. Queen Saenz + Schutz PLLC served as legal advisor to All-State and Blue Sage.
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to private, public, and private equity owned companies worldwide. The firm combines expansive industry and transactional expertise with highly engaged, senior-level bankers to create tailored solutions for clients. PMCF has been serving the plastics and packaging industries for over 20 years and has a long track record of successful transactions involving specialty, niche players in these industries.
About Allied PlasticsAllied is based in Twin Lakes, Wisconsin and was founded in 1995. The Company has grown to serve a variety of different industries by providing durable, thermoformed products for OEMs along with consumer products and packaging/dunnage. Allied has built a reputation for its customer-first approach, sector-leading, heavy-gauge products, and long-tenured customer base. For more information about Allied Plastics, please visit www.alliedplastics.com
About All-State IndustriesHeadquartered in Des Moines, Iowa, All-State is a leading provider of nonmetallic components for OEMs across a diverse range of end markets. The company was founded in 1974 and has a demonstrated history of partnering with its customers to design and manufacture solution-oriented products used for sealing, acoustics, thermal management, motion control, instrumental panel, and impact absorption applications. For more information about All-State Industries, please visit www.all-stateind.com
About Blue Sage CapitalBlue Sage Capital is an Austin, Texas-based private equity firm that has been investing in profitable, growing, lower middle-market companies since 2002. Blue Sage currently has over $400 million of assets under management and seeks to partner with founders, families, and management teams as the first round of institutional capital for businesses that enjoy leadership positions in niche manufacturing, environmental solutions, or specialty services industries. Blue Sage typically invests $20 million to $40 million in control buyout investments and recapitalizations of companies with $20 million to $200 million of revenue. For more information about Blue Sage Capital, please visit www.bluesage.com
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