Engineered Plastic Products Corp. was acquired by Laird Plastics, Inc.
Laird Plastics, Inc. acquired the assets of EPP Corp. EPP is a leading manufacturer of highly precise, CNC machined plastics parts for customers in the aerospace, medical device, industrial, and tech sectors. Laird Plastics is a leading distributor of plastic rods, tubes and sheets. EPP had been a customer of Laird’s for years prior to the transaction.
Laird Plastics, Inc.
Engineered Plastic Products Corp.
EPP Corp was acquired by Laird Plastics
The owner of EPP Corp was in his 70’s, had some health issues, and wanted to retire in a few years. The company was beautifully run, with stable revenues and very healthy margins, but the owner was very important to the overall success of the business, so management continuity was key.
We identified a strategic supplier that was interested in vertically integrating. They were interested in diversifying from a pure wholesaler/distribution model to a vertically integrated supplier of both plastic stock rods and bars by including as well as high value, custom machined plastics parts. Their management team was able to take over many of the owner’s day-to-day responsibilities so he could lessen his responsibilities and focus on maintaining customer relationships and bring in new business. Once the transition period is over, the owner will be able to fully retire.
Selling to a strategic buyer who was committed to retaining all of the seller’s employees and who had a management team in place that could step in for the seller so he could begin to slow down was essential to the success of this transaction.