NASHVILLE, TN / ACCESSWIRE / August 4, 2021 / Sage Park, a global, operations focused acquisition group, today announced the sale of SMI Molding, LLC to Plastic Components, Inc. a portfolio company of MPE Partners. The terms of the transaction were not disclosed.
SMI Molding is a leading provider of highly engineered plastics injection molded components for the medical, industrial and consumer markets using complex, flexible and specialty plastic resins. SMI's comprehensive capabilities include advanced color replication, gas-assist and insert over-molding, enabling many of the world's leading end use applications. SMI has a reputation in the industry for its technical expertise, manufacturing capabilities, and product quality.
Sage Park acquired SMI Molding from the original founders in July 2017 and embarked on multiple programs to improve the corporate structure and operational capabilities of the company. Sage Park recognized the core values of the company and worked with management to develop a plan to improve its operations, acquire new customers and strategically position the company for growth.
"Our partnership with Sage Park has been outstanding, and we are grateful for their strategic advice, partnership, investment and support. It has enabled us to consistently exceed our goals and catalyze operational improvement and business growth," said Shane Cave, President and CEO of SMI Molding. "The foundation that we built together will benefit our customers and partners for years to come."
"The transformation of SMI Molding through Sage Park's operational excellence model created significant improvement in the underlying business capabilities and the overall strategic value. This business is a testament to the efficacy of our methodologies." said Rob Joubran, Sage Park's Chairman and CEO. "We have tremendous pride in how SMI has flourished under Sage Park's ownership. I personally want to thank all the dedicated SMI employees, the company's management team, and specifically Shane Cave for the team's hard work over the past four years. The business is well positioned for sustained future success."
Stout Capital Markets served as financial advisor to Sage Park and SMI in the transaction.
About Sage Park
Sage Park is an acquisition group focused on operational excellence and is renowned for the value creation we deliver for our businesses. We invest tremendous time and energy to facilitate operational improvements, business strategies, direction, and growth. By aligning acquisition expertise with operational proficiency, we create additional value through acquisitions of corporate and private divestitures.
About SMI Molding, LLC
SMI Molding, LLC is a custom plastic injection molding company with a long, consistent history of high-quality molding services and manufacturing. Since 1982, SMI Molding, LLC has maintained a strong reputation in the industry for its comprehensive quality assurance programs in injection molding. The Company specializes in sporting goods, medical, consumer and technology products. It works with complex materials, such as urethane and its capabilities include over molding, insert molding, and gas-assisted molding. It completes the process with a comprehensive decorating service.
Brian Perrault, Managing Director, Sage Park
Tel: (615) 637-8032
SOURCE: Sage Park