Mesirow Financial Advises Precision Products Group, Inc. on its Sale to Long Point Capital and Greyrock Capital Group
Mesirow Financial acted as the exclusive financial advisor to Precision Products Group, Inc. ("PPG" or the "Company") in its sale to Long Point Capital and Greyrock Capital Group.
PPG, headquartered in College Park, Maryland, is a leading manufacturer of customized small diameter paper and plastic tubes used in a variety of niche applications requiring tight tolerances, unique materials, robust performance attributes, or difficult to produce shapes. The Company engineers and manufactures innovative, highly customized spiral-wound tubes and cores produced to extremely precise specifications for the electrical insulation, specialty packaging, consumer products, medical, military and other end markets. PPG focuses on niche offerings and is the one of the largest specialty tube and core manufacturers in the United States. The Company’s reputation for providing customized and highly engineered solutions is supported by an impressive global customer base.
Dave Hooe, president and CEO of PPG, commented, "Mesirow Financial was instrumental in identifying a strong group of strategic and financial prospective buyers and conducting an effective transaction process. Our customers and employees will both benefit as Long Point Capital, Greyrock Capital Group and Precision Products Group join forces and continue to grow the Company's product offering, end market span and geographical reach. Mesirow Financial's advice throughout the process resulted in a successful outcome for all parties involved."
Jeff Golman, vice chairman and head of Mesirow Financial's Investment Banking group, said, "We were honored to represent the shareholders of Precision Products Group in this process. PPG is an innovative and highly reputable manufacturer of paper and plastic tubing."
Rocky Pontikes, managing director of Mesirow Financial, added, "Mesirow Financial's strong experience and relationships within the niche manufacturing industry allowed us to pair PPG with knowledgeable financial sponsors that are committed to growing the Company."
About Long Point Capital
Long Point Capital is an investment firm with offices in Michigan and New York which partners with growth oriented companies to provide both equity capital and management support. Our principals have been involved in more than 50 transactions with an aggregate value exceeding $5 billion. Long Point Capital focuses on owner and management recapitalizations of manufacturing, distribution, and service companies with revenues of $30 million to $200 million. For more information please visit Long Point Capital's web site longpointcapital.com.
About Greyrock Capital Group
Greyrock Capital Group provides mezzanine debt and equity to finance buyouts, recapitalizations and internal growth needs of middle-market companies. Greyrock Capital is currently investing out of its third fund and serves management teams and equity sponsors nationwide through offices in San Francisco, Chicago and Wilton, CT. For more information please visit Greyrock Capital Group's website greyrockcapitalgroup.com.
Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow investment vehicle(s). Mesirow Financial, Inc. is not affiliated with Precision Products Group, Inc., Long Point Capital, Greyrock Capital Group, or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.