Jon Carlson, president of Orchard Creek Capital.
Michigan-based investment firms Auxo Investment Partners and Orchard Creek Capital LLC completed a total of five plastics M&A deals in the second half of 2020.
Auxo of Grand Rapids purchased Fort Wayne, Ind.-based Paramount Tube Engineered Solutions, Cleveland-based Euclid Medical and GC Dies LLC of Elmhurst, Ill.
Paramount Tube and Euclid Medical both operate under the brand Precision Products Group Inc. PPG CEO Dave Hooe will continue in that role.
Paramount Tube makes small-diameter, spiral-wound and extruded tubular products for electric motors and other uses. Euclid Medical designs, engineers and manufactures automated single- and multi-dose pharmaceutical packing systems.
Investment firm buys three plastics processors
Carlson
A Michigan-based private equity firm has started a strategy to buy U.S. plastics processors and has already purchased three companies.
Northville, Mich.-based Orchard Creek Capital LLC started with Classic Die Inc. in Grand Rapids, Mich., and in the past two months has added Tool Technology Corp. in Inman, S.C., and Advantage Plastics of New York Inc. in Winter Haven, Fla.
Orchard Creek is headed by President Jon Carlson, who has a background in financial management in manufacturing, including 10 years at Ford Motor Co. We believe that the plastics industry has a number of attractive elements. The industry has been steadily growing over many years, as the technology supporting plastics provides an expanding set of technical capabilities, Carlson said.