Ardian North America Direct Buyouts team announces agreement for the acquisition of revere plastics Systems
Press release
Ardian North America Direct Buyouts team announces agreement for the acquisition of revere plastics Systems
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20 November 2017
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North America Fund
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USA, New-York
6 minutes de lecture
New York, November 20, 2017 – Ardian, the independent private investment company, today announces that its North America Direct Buyouts team has reached an agreement to acquire Revere Plastics Systems, a designer and manufacturer of plastic injection molded parts, from its parent, Revere Industries, LLC. Ardian will acquire a 100 percent interest in the company.
Founded in 2005 and headquartered in Clyde Ohio, Revere Plastics Systems partners with clients in the appliance, automotive, outdoor power equipment, medical and consumer goods industries. Its manufacturing capabilities include value-add plastic injection molding, insert and multi-shot molding, IML/IMD decorating, laser etching, assembly, numerous types of welding, inspection and leak testing.
Beyond its headquarters in Ohio, the company has three additional manufacturing facilities in Indiana, Missouri and Ontario. With approximately 1,100 employees, the company is at the forefront of developing highly-tailored and advanced technologies to support customers manufacturing needs.
“Revere Plastics Systems is a market-leading plastic injection molding manufacturer well positioned for growth. Revere’s highly-capable leadership, blue-chip customer base, and its value-add capabilities gave us great confidence in the company’s potential and we foresee expansion opportunities for the company ahead,” said Vincent Fandozzi, Head of Ardian North America Direct Buyouts.
Kevin Kruse, Managing Director, North America Direct Buyouts, added “Furthermore, our investment in Revere will be supported by Ardian’s considerable experience and relationships in the industrial manufacturing sector alongside
Ardian’s global network.”
“We are delighted to have Ardian as a partner on our side as we embark on the next stage of our growth. Ardian’s support will allow us to invest in additional capacity and new technologies enhancing our capabilities to serve our customer base.” said Glen Fish, President of Revere Plastics Systems. “There are great opportunities ahead and we are looking forward to taking advantage of them with the full support of Ardian,” continued Mr. Fish.
“We look forward to working with Glen and the incredible people who make up the Revere employee base on this next chapter in the company’s development,” added Mr. Fandozzi.
Ardian launched its North America Direct Buyouts activity in October 2016 when it brought on board the team from Seven Mile Capital Partners, led by Mr. Fandozzi. The North American direct investment activity focuses on lower middle market buyouts, specifically middle market industrial and related business services companies in North America. This is the second transaction completed by the team after the acquisition, in June 2017, of Dynamic Technologies, the designer and manufacturer of automotive fluid-handling systems.
Financial details for the transaction were not disclosed. The transaction is expected to close by year end.
ABOUT REVERE PLASTICS SYSTEMS
Revere Plastics Systems, LLC designs, develops, manufactures, and supplies plastic injection molded assemblies and components for the appliance, automotive, outdoor power equipment, medical, garden and consumer goods industries.
It offers assemblies which include doors, balance rings, bases, pumps, dispensers, rollers, and dish racks for the appliance industry ; lighting, interior, HVAC and braking for the automotive industry. The company also provides numerous engineered servicesc ; injection, stack, tandem, and insert molding services, and multi shot molding, mold to mold transfer, gas assist, in-mold decorating, vertical molding, testing, assembly, and decorating services.
The company was incorporated in 2005 and is based in Clyde, Ohio. It has locations in Clyde, Ohio, Jeffersonville, Indiana, Poplar Bluff, Missouri, and Brampton, Canada.
ABOUT ARDIAN
Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 470 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore).
It manages funds on behalf of 640 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
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