has completed a recapitalization with
P&M Corporate Finance (“PMCF”) is pleased to announce that it served as the exclusive financial advisor to Teel Plastics, Inc. (“Teel”) in a recapitalization transaction with MPE Partners (“MPE”).
Headquartered in Baraboo, Wisconsin, Teel is a world-class, technology-driven manufacturer of highly engineered and complex plastic components specializing in plastic extrusion and injection molding. A winner of Wisconsin Manufacturer of the Year, Teel serves the agriscience, laboratory sampling bags, medical, consumer cosmetics, water treatment, flex-film cores, and industrial piping markets. The Company was founded in 1951 and has developed a reputation for superior quality, materials expertise, collaborative product development, and exceptional customer service. Teel has been owned by the Smith family for over 20 years and was seeking a partner to help capitalize on the significant growth opportunities that are currently available to the company.
Based in Cleveland, Ohio and Boston, Massachusetts, MPE Partners is a private equity firm focused on investments in lower-middle market companies primarily in the high-value manufacturing and commercial & industrial services industries. The firm works closely with their portfolio companies, partnering with industry-leading management teams and providing them with strategic, operational and financial support to create long-term shareholder value through superior operating and financial performance.
MPE partnered in the transaction with Teel Plastics owner and Chairman, Jay Smith and his family, as well as the senior management team, led by President Tom Thompson. The transaction proceeds will be utilized to accelerate the growth of the Company. Jay Smith commented, “The Smith family is proud of the success we’ve had building Teel into a world class plastics processor over the past two decades, and we have a future of exciting growth planned. We are confident that, together with MPE, we will continue to innovate, deliver quality products to our customers, and execute on our growth plan. We are excited to utilize the capabilities, resources, and capital that MPE brings to support this next chapter of growth.”
PMCF’s Plastics & Packaging Group served as exclusive financial advisor/investment banker to Teel Plastics in the recapitalization. Jay Smith said, “John Hart and his team were instrumental in helping us select the best partner for Teel and making this a successful transaction for both the company and the Smith family. PMCF’s expertise in the plastics industry and comprehensive approach enabled us to effectively position Teel’s unique capabilities and growth opportunities. They orchestrated a great process for us and were heavily involved from the early planning stages through every step of the transaction process.”
The transaction closed in January 2020. Foley & Lardner served as the legal advisor to Teel, and Baker Tilly provided tax structuring and accounting due diligence support.
PMCF is a leading middle market investment bank providing M&A advisory services to privately-held, public, and private equity owned companies. PMCF’s service offering includes sale advisory, merger and acquisition advisory, capital raising, and strategic advisory (including sale planning). The firm has significant industry expertise and dedicated professionals focused on plastics and packaging, medical technology, industrials, and business services industries. PMCF has offices in Chicago, Detroit, and Denver and internationally through its CFI partner firms. PMCF is also an affiliate of Plante Moran, one of the nation’s largest professional services firms.
Media contact: John Hart, Managing Director of PMCF at john.hart@pmcf.com
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