MPE Partners Announces the Sale of Plastic Components, Inc.
CLEVELAND and BOSTON, Jan. 6, 2022 /PRNewswire/ -- MPE Partners ("MPE" or "Morgenthaler Private Equity"), a preferred partner for entrepreneur- and family-owned companies, announced the sale of Lighthouse Holdco, Inc., the parent company of Plastic Components, Inc. ("PCI" or "the Company") to Rosti US Corp., a subsidiary of Sweden-based Rosti Group AB ("Rosti") which has state-of-the-art production sites strategically located across Europe and Asia. Headquartered in Germantown, WI, with additional locations in Cary, NC and Clearfield, UT, PCI is an innovative manufacturer of mission-critical, engineered plastic components.
Matt Yohe, Partner at MPE, remarked, "We have enjoyed our partnership with PCI and their impressive team over the past five years. During that time, PCI has transformed from a regional manufacturer to a nationwide platform by successfully completing two strategic add-on acquisitions, accelerating its organic growth, and tripling its employee base."
Derrill Rice, CEO of PCI, commented, "Throughout our partnership, MPE was very supportive of our growth, investing in employee talent and increasing our operational capacity. Furthermore, MPE proided invaluable advice to enable our add-on acquisition growth strategy. We have enjoyed the partnership with MPE and are excited to capitalize on the foundation we have built together in PCI's next chapter of growth with Rosti."
"Our investment in PCI has been a successful example of MPE's strategy to acquire family-owned, high-value manufacturing companies and invest in key areas of growth," added Nick Stender, Vice President at MPE. "We believe this is an exciting combination which will allow the PCI and Rosti teams to collaborate to support their respective customers on a global basis."
BakerHostetler served as legal advisor to MPE and PCI. Stout Capital, LLC acted as exclusive financial advisor. Terms of the transaction were not disclosed.
About Plastic Components, Inc.
About MPE Partners
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SOURCE MPE Partners
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