Ontario Teachers' augments Industrials portfolio with polyvinyl chloride market leader Aurora Plastics
3 August 2016
Ontario Teachers' Pension Plan (Ontario Teachers') today announced it is acquiring industry leader Aurora Plastics from its founders, in partnership with Wind Point Partners of Chicago.
"We are excited about our acquisition of Aurora Plastics," said Jane Rowe, Senior Vice-President, Private Capital, Ontario Teachers'. "The Company is a market leader, with best-in-class products and growth potential, and we have excellent and proven partners in Wind Point Partners and their executive advisor Mike Fitzpatrick, who have strong expertise in this sector."
Aurora Plastics provides custom compounding of rigid polyvinyl chloride (RPVC). Its specialty is custom RPVC powders, pellets, foams and alloys with a focus on small-medium sized manufacturers, primarily in building product end markets, which it produces in its world-class facilities in Streetsboro, OH and Welcome, NC. It will be part of the Ontario Teachers' Industrial & Energy portfolio.
"In addition to being known for its high quality products, under the previous owners and current management Aurora also has built a stellar reputation in the industry for its technical expertise and customer service," Ms. Rowe stated. "With the combination of their capabilities, Wind Point Partners' deep thermoplastic compounding sector experience, and our strong value creation record in the industrials space, we see Aurora becoming a robust growth platform."
Terms of the transaction are not being released.
Source : finance.yahoo.com