CLEVELAND, OHIO – Cleveland private equity firm CapitalWorks, LLC announced today the sale of its investment in Premium Plastic Solutions, LLC (“PPS”), a custom blow molder, to Universal Plastics, a producer of large plastic parts with complex designs and excellent cosmetics. Terms of the deal were not disclosed.
“CapitalWorks invested alongside Little Mountain Industries in Premium Plastic Solutions in 2010, and over the past seven-years both have supported an effort to improve the business and prepare for its next phase of growth. Premium Plastic Solutions has an excellent partner in Universal Plastics, and a great group of core employees to take the company to the next level.” Said Dick Hollington, Managing Director of CapitalWorks, LLC.
Todd Martin, Managing Director of CapitalWorks, LLC commented, “we are excited to have found a partner for PPS that will continue to invest in future growth strategies. PPS is a great example of CapitalWorks, LLC partnering with management and employees to build a stronger and more stable business.”
CapitalWorks, LLC was advised by Benesch, Friedlander, Coplan & Aronoff on the transaction.
CapitalWorks, LLC (capitalworks.net) is a Midwest private equity firm that encourages knowledgeable investors to partner with it in finding, vetting and owning companies. Based in Cleveland, Ohio, CapitalWorks, LLC acquires lower middle-market companies in niche manufacturing, value-added distribution, and business services industries and gives them the capital, support and freedom to grow. Recent acquisitions include CWindows, GEM City Corporation, Chemtron Corporation, and Capewell Aerial Systems. Founded in 1999, the firm’s investors are primarily successful entrepreneurs and executives who contribute to the evaluation and investment process.