DALLAS, Dec. 21, 2018 /PRNewswire/ -- Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client's assets, Pacific Plastics Injection Molding (PPIM), to Diversified Plastics Inc. (DPI). The deal closed December 10, 2018.
Pacific Plastics Injection Molding, based in Vista, California, provides a single source for injection-molded plastic parts, product design and design support, in-house and offshore tooling, and value-added assembly and packaging services. The company serves the industrial, electronics, telecommunications, medical and filtration markets, and PPIM boasts an 18,000-square-foot facility in Southern California with 30 employees.
"DPI has a similar culture," said PPIM General Manager Rob Gilman. "Our operation will continue with its full staff as PPIM, and Jae English, PPIM's founder, will be working with DPI's management and our team for a smooth transition. The PPIM employees are excited about the opportunity to eventually participate in the employee stock ownership plan."
Diversified Plastics, located in Minneapolis, Minnesota, is a full-service plastic injection parts manufacturer that provides prototyping, manufacturing and assembly. It is uniquely equipped to offer these capabilities and value-added services for virtually any size part, and the company provides plastic molding expertise for short to large runs. Set up as an employee stock ownership plan (ESOP), the company prides itself on its employees' dedication to company success.
Pacific Plastics Injection Molding is Diversified Plastics' first acquisition. The PPIM deal is part of DPI's strategic growth initiative.
"The acquisition of PPIM provides synergy with DPI's services and customers as well as geographic benefits and diversification into new industry segments," said Diversified Plastics CEO Kevin Hogan. "We are very excited about the unique capabilities, overseas tooling supplier relationship and location advantages that PPIM will add to our organization. Additionally, the company will benefit from DPI's experienced sales team and advanced technologies and manufacturing processes, such as Carbon 3D-additive manufacturing."
Generational Equity Senior Managing Director Stephen Crisham's team, led by M&A Advisor Cole Preston and assisted by Managing Director Lori Galloway, successfully closed the deal. Senior Managing Director David Robinson established the initial relationship with PPIM.
"With the acquisition of PPIM and its common culture and core values, DPI is very well positioned for future growth and expansion," said Preston. "We are thoroughly pleased with the outcome of this transaction and pay special thanks to DPI Chairman James Dow, CEO Kevin Hogan, and CFO Roger Vang for their perseverance and creativity to find the finish line and ensure their combined long-term success."
With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing merger, acquisition and strategic growth advisory services. Their four-step approach features exit planning education, business valuation, value enhancement strategies, and M&A transactional services.