Mummert & Company and Stout Risius Ross (SRR), independent, international corporate finance advisors headquartered in Munich respectively Chicago, USA, exclusively advised the shareholders (Baird Capital Partners Asia, Singaporean Individual Investors, Management) on the sale of Boston Plastics (Shanghai) to US Farathane Corporation, a portfolio company of The Gores Group. The transaction was completed on January 22, 2016. Financial terms of the transaction will not be disclosed.
Boston Plastics is a Shanghai headquartered manufacturer of plastic injected molded components and assemblies for the automotive, industrial, and consumer end-markets. Boston Plastics delivers these products to a world class customer base consisting of multinational, blue chip customers such as Dräxlmaier Group, Delphi Automotive, and Grammer AG, among others. Furthermore, the Company has earned its way into some of the world’s top OEMs, including Audi, BMW, Ford, General Motors, Daimler, and Volkswagen.
The acquisition of Boston Plastics further accelerates US Farathane’s strategic initiative to become a global supplier to its customers. Boston Plastics’ three production facilities in China (Shanghai, Taicang, Changchun), together with its highly experienced management team, provide the buyer with a strong presence to serve the Asian market and a direct Chinese footprint for the local automotive market. Additionally, the acquisition provides US Farathane the opportunity to distribute to existing OEM customers in both the U.S. and China.
Dirk Liedtke, Managing Partner at Mummert & Company, comments: “This mandate has once more put us in close contact and negotiations with numerous worldwide investors and globally renowned multinational automotive suppliers. Due to Mummert & Company´s and SRR´s long-standing cooperation in the automotive sector, we were able to combine our established international automotive interior and exterior plastics expertise which led to a successful closing.”
SHORT PROFILE MUMMERT & COMPANY CORPORATE FINANCE GMBH
Mummert & Company is a leading, globally active mid-cap M&A advisor, with particular expertise in the sectors Industrial Technologies, Business Services, Life Sciences, ICTand Consumer Goods. With offices in Munich, Vienna and Princeton (USA), Mummert & Company provides advisory services for the purchase or sale of companies or shareholdings (mergers & acquisitions), for the raising of equity capital (venture capital, private equity or the capital markets) and debt capital, for restructurings, for valuations (fairness opinions) as well as for the privatization of government-owned enterprises.
Detailed information about Mummert & Company is available at www.mummertcompany.com
SHORT PROFILE BOSTON PLASTICS (SHANGHAI)
Boston Plastics (Shanghai) Pte Ltd (“Boston” or the “Company”), founded in 2005 and headquartered in Shanghai, China, is an ISO/TS 16949:2009 certified manufacturer of precision injection molded components and assemblies for the automotive, industrial, consumer, and other industries. With 65 injection molding machines in three strategically located facilities throughout China, the Company offers its customers a single source for high quality, precision molded products. For the year ending December 31, 2015, Boston is forecasting revenue and adjusted EBITDA of $42.0 million and $5.3 million, respectively. The Company provides its customers with a full suite of manufacturing capabilities, including high precision molding, high mix / low volume molding, large tonnage molding, two-shot molding, and insert molding. In addition, Boston is an industry leader in the design and engineering of tools, which accounts for approximately 21% of the Company’s revenue.
Detailed information about Boston Plastics is available at www.boston-plastics.com
SHORT PROFILE US FARATHANE
With 16 manufacturing facilities in the United States, Mexico, and China and headquartered in Auburn Hills, MI, US Farathane Corporation is a leading solutions partner to the North American automotive OEMs providing functional black plastic and interior and exterior plastic components. US Farathane is ISO 9001 and ISO 14001 certified as well as TS 16949 certified. US Farathane customers include FCA, Ford, General Motors, Honda, Toyota, and several other large global OEMs.
Detailed information about BUYER is available at www.usfarathane.com