Charlie Frey, President of Plas-Pak, noted, "I selected Nordson as the next owner of Plas-Pak because I saw a strong cultural fit with both our customers and employees. I believe Nordson will take good care of our customers and provide our employees additional opportunities for growth."
"Plas-Pak's recurring revenue model, proprietary technology, and low-dollar-cost, high-value-add selling proposition are highly complementary and consistent with our existing Nordson EFD product line," said Jeff Pembroke, Vice President for Nordson's Advanced Technology Systems segment. "Plas-Pak strengthens Nordson EFD's position in select industrial end markets, while providing access to a rapidly growing animal health market and broader exposure to the DIY, pesticide and dental markets. We expect to leverage Nordson's global footprint to accelerate Plas-Pak's growth beyond its current strong presence in North America. The transaction also aligns with our strategic objective of diversifying Nordson's Advanced Technology segment through greater participation in less cyclical end markets."
Charlie selected John Hart and PMCF's Plastics & Packaging Group to serve as Plas-Pak's exclusive financial advisor in the transaction. "We are very pleased with our decision to hire PMCF and would highly recommend them to other owners considering a sale transaction. Their expertise and significant involvement in every step of the transaction was critical to making this transaction a success."
PMCF is an award-winning middle market investment bank providing global merger and acquisition advisory services to private, public, and private equity owned companies. PMCF provides a broad range of services including sale advisory, acquisition advisory, capital raising, and strategic advisory. The firm has dedicated industry teams providing services to the plastics and packaging, medical technology, industrials, and business services industries. PMCF has offices in Chicago and Detroit and around the globe via its Corporate Finance International associates. PMCF is an affiliate of Plante Moran one of the nation's largest professional services firms. For more information, visit www.pmcf.com
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SOURCE P&M Corporate Finance