Brown Gibbons Lang & Company announced today the sale of Applied Tech Product’s Engineered Rubber & Plastic Group (“ERPG”) to Baird Capital Partners.
A former portfolio company of Apax Partners, ERPG is a leading specialty manufacturer of precision molded plastic and rubber components for a diverse range of applications including the high growth medical device market. ERPG has established itself as one of the most respected and trusted manufacturers in the industry and is uniquely situated as one of only a few manufacturers with tooling and molding expertise in combined applications involving plastic, silicone and rubber materials. The Company’s engineering-grade niche products include components and assemblies supporting medical devices, hand-held bar code scanners, GPS units, dental implant kit boxes, electronic connectors and specialty pharmaceutical packaging.
BGL was retained by Applied Tech Products as the exclusive financial advisor to explore strategic alternatives for its two divisions: ERPG and Health & Beauty Care (“HBC”). The Company’s shareholders have since determined to focus on the growth of the HBC division and recently completed the strategic acquisition of a Chinese manufacturer.
“We are quite pleased with the outcome of the transaction,” stated Carl Deddens, chief executive officer of Applied Tech Products. “From beginning to end, the BGL team members were tireless and enthusiastic champions for ERPG. Their keen understanding of our business, value proposition, and markets were instrumental in achieving the highly-rewarding transaction result.”
“ERPG’s reputation for quality, unique manufacturing capabilities, and strong customer relationships made it a compelling investment opportunity,” said Andrew Petryk, managing director and principal at BGL. “Baird represents an excellent partner to assist ERPG in capitalizing on its leading market position and the positive growth characteristics in its key medical device end-market.”
Brown Gibbons Lang & Company is a leading independent investment bank serving middle market companies and their owners throughout the U.S. and internationally. BGL’s professionals are experts in mergers & acquisitions, debt & equity placements, and financial restructurings. BGL is the U.S. partner in Global M&A, the world’s leading partnership of independent middle market financial advisory firms focusing on cross-border transactions. www.bglco.com
Baird Capital Partners, the U.S.-based buyout fund of Baird Private Equity, invests in lower middle-market companies in the Business Services, Manufactured Products and Healthcare sectors. Baird Capital Partners is supported by operating resources in China (Beijing, Hong Kong, and Shanghai) and India (Bangalore), focused on facilitating and executing Asia sourcing, manufacturing and distribution strategies for BCP’s portfolio companies. For more information, please visit www.bairdcapitalpartners.com.
Apax Partners is one of the world’s leading private equity investment groups. It operates across the United States, Europe, Israel and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total $35 billion around the world. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. For more information, please visit www.apax.com.