has been acquired by
a portfolio company of
P&M Corporate Finance (“PMCF”) is pleased to announce that it served as the exclusive financial advisor to Cascadia Custom Molding (“Cascadia”) in a sale transaction with VRC Engineered Solutions (“VRC”), a portfolio company of Blue Point Capital Partners.
For over 40 years, Cascadia has provided high-quality thermoplastic components to highly regulated and attractive markets such as medical, aerospace and consumer goods. Cascadia operates out of manufacturing facilities in Coeur d’Alene, Idaho, and Woodinville, Wash. The acquisition will expand VRC’s product offering and manufacturing footprint into the Pacific Northwest, providing increased capability and flexibility for both VRC and its customers.
Blue Point and the VRC management team value Cascadia’s diverse customer base and focus on complex, low-volume parts, as well as in-house capabilities that further expand VRC’s tooling, materials, production and service capabilities.
“This acquisition strategically marks the next phase of growth for both VRC and Cascadia. Uniting the respective company visions and leveraging their combined capabilities, services, technologies and expertise across all locations will offer significant benefit to our customers,” said Blue Point Partner Jonathan Pressnell. “The geographic and end market expansion, along with the potential for cross-selling opportunities, makes the combined company well-positioned for growth.”
Dale Meyer and his wife, Janeanne Upp, who have owned Cascadia for 18 years, said, “We decided to partner with VRC, and Blue Point, because we could see the same philosophical approach and strategic fit between the companies, the management teams and our vision of the future for Cascadia.”
The Cascadia shareholders selected PMCF, led by John Hart, to serve as their exclusive financial advisor/investment banker in the transaction. “We’ve known John and PMCF for many years and have appreciated their guidance as we’ve grown Cascadia both with current and new customers, and through the acquisition of Mold-Rite. PMCF was instrumental to the success of this transaction and I would definitely recommend them to other plastics business owners who are considering a transaction in both the short or long-term,” said Dale Meyer.
Also commenting on the transaction was John Hart, Managing Director and Leader of PMCF’s Plastics & Packaging Group. “We were proud to represent Cascadia in this transaction. Dale and Janeanne built a great business and I had the pleasure of getting to know them over a long time period. The addition of Cascadia to VRC significantly enhances their platform and I would expect VRC to see a significant benefit from Cascadia’s expertise in injection molding.”
About PMCF
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to privately held shareholders as well as 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 Cascadia Custom Molding
Cascadia Custom Molding was formed in 2016 when Accurate Molded Plastics acquired Mold-Rite, Inc. With over 40 years of injection molding experience, Cascadia is a custom plastics injection molder committed to serving aerospace, medical, electronic, transportation and other exacting industries. Cascadia specializes in close tolerance molding of engineered thermoplastics including insert molding, overmolding with hard and soft materials, two-shot molding, gas assist molding, in-mold decorating and thermoset molding. For more information, visit www.cascadiamolding.com.
About VRC Engineered Solutions
VRC Engineered Solutions was founded in 1963 and has since served customers primarily in the aerospace & defense, automotive, industrial, oil & gas, marine and medical end markets. VRC is made up of Ritus and its sister companies, Vanseal and Classic Molding, which operate under the same management team and support one another in their mission is to provide solutions and maximum value to their customers. This is achieved upon being a leader in engineering and polymer technology and product solutions, excellent technical support, data-based decisions and superior service. For more information, visit www.ritus.com.
About Blue Point Capital Partners
Blue Point Capital Partners is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower middle-market businesses to build processes and capabilities to achieve dramatic growth. The Firm focuses on opportunities where it can leverage its collective experience, extensive network of operating resources and unique toolkit, which includes supply chain/Asian capabilities, data and digital strategies, human capital strategy and focused add-on acquisition efforts. Blue Point typically invests in businesses that generate between $25 million and $300 million in revenue. For more information, visit www.bluepointcapital.com.
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