CLEVELAND, OH / ACCESSWIRE / August 20, 2019 / Blue Point Capital Partners announced today the acquisition of its fifth Blue Point IV platform investment, VRC Holdings Inc. (“VRC”) (www.ritus.com), a value-added manufacturer of custom molded rubber, plastic and sealing components.
VRC, headquartered in Milwaukee, Wisconsin, designs and manufactures a variety of products including mission-critical seals, wiring grommets, tubing and molded thermoplastics primarily for the aerospace & defense, automotive, industrial, oil & gas, marine and medical end markets. VRC pairs sophisticated engineering with automated processes and a broad range of presses and secondary manufacturing equipment to best serve its customers. Together, the Blue Point and VRC teams are eager to continue executing their diversified, strategic vision for added growth.
“We are impressed with the quality and capacity of VRC’s current asset base and believe the Company operates in an attractive niche of the industrial rubber and plastic component markets. We are grateful to have the opportunity to partner with Bill and Tom Gebhardt and support VRC in the next stage of its growth and evolution,” said John LeMay, a Partner with Blue Point.
Blue Point understands the elastomeric market well given its prior experience and success with the BPCP II platform company, Quality Synthetic Rubber. The investment in VRC will be supported by several Blue Point operating executives who bring strong commercial, operating and technical experience to the effort.
Tom Gebhardt, President of VRC, said, “I am confident that our partnership with Blue Point will offer VRC both the capital and management expertise to help sustain our recent success and support our future growth initiatives, particularly in developing enhanced technical development capabilities, a stronger commercial presence and in pursuing acquisition opportunities in our fragmented industry space.”
“Over the last five decades VRC has continually looked for ways to expand their platform and add value for their customers. Blue Point has partnered with over 25 custom material manufacturers over the years and is positioned to support management in identifying the most attractive paths for growth and building additional internal capabilities to execute against the core growth strategies,” said Jonathan Pressnell, a Principal with Blue Point.
VRC Holdings Inc. (www.ritus.com) was founded in 1963 and has since served customers primarily in the aerospace & defense, automotive, industrial, oil & gas, marine and medical end markets. VRC Holdings Inc. is made up of Ritus and its sister companies, Vanseal and Classic Molding, which operate under the same management team and support one another to deliver products that provide the best overall value for their customers.
Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a global organization. The Blue Point partner group has a 20-year track record of partnering with companies in the lower middle-market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and Asia, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in businesses that generate between $20 million and $300 million in revenue.
For more information, contact:
BLUE POINT CAPITAL PARTNERS
127 Public Square, Suite 5100
Cleveland, OH 44114
VRC Holdings Inc.
7900 N. 73rd Street
Milwaukee, WI 53223
SOURCE: Blue Point Capital Partners