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Huron Capital’s Bloomer Plastics Acquires Blown Film Manufacturer
Detroit, MI – October 20, 2014 – Huron Capital Partners (“Huron Capital”) announced today that its portfolio company, Wisconsin-based Bloomer Plastics, Inc., has acquired Delaware, Ohio-based Optimum Plastics. Bloomer Plastics is a leading producer of custom engineered cast embossed films for the industrial, medical and packaging markets, while Optimum Plastics is a technology leader and pioneer in high barrier coextruded blown films.
Matt Hare, Vice President at Huron Capital, said, “Optimum is a great fit with Bloomer, and this acquisition is right in line with Huron’s buy-and-build strategy of partnering with strong management teams and investing for growth.”
The combination of engineered blown film with Bloomer’s existing portfolio of custom designed cast film is directly aligned with its fundamental strategic initiatives and is core to the company’s growth plans. This is a significant move for Bloomer, as it will nearly double the revenue and employee base.
“We’re proud to welcome Optimum into the Bloomer Plastics family,” said Kevin Keneally, President and CEO of Bloomer Plastics. “Bob Clemons and his team have assembled the finest set of multi-layer high barrier film assets in the stand alone film market. We look forward to continuing their investment in state of the art technologies for our mutual valued customers.”
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.
