Miller Johnson Represents Altus Capital Partners and Prism Plastics, Inc. in the Acquisition of Tech Molded Plastics, Inc.
Miller Johnson is pleased to announce that Prism Plastics, Inc. (Prism) acquired the Pennsylvania based manufacturing business of Tech Molded Plastics, Inc. (TMP) – a full-service injection molded plastics company specializing in tight tolerance precision molding and production injection molds. The transaction nearly doubles Prism’s size in terms of sales.
Prism sought a company with similar product type but different markets. “It gives us a little bit of diversification, and also there’s really no customer overlap so we get good customer diversification between the two companies, which is another positive,” Prism CEO Rod Bricker said. Prism is a portfolio company of Altus Capital Partner (Altus).
Miller Johnson acted as legal counsel to Prism and Altus in this transaction. Miller Johnson’s transaction team consisted of Bob Wolford (M&A counsel), Matt Bishop (M&A counsel), Dustin Daniels (M&A counsel), Brittany Harden (Corporate), Neil Williams (Tax), Alan Schwartz (Environmental), and James Ens (Real Estate).
Prism Plastics, Inc.
(prismplastics.com) Founded in 1999, Prism is a manufacturer of high precision injection molded plastic components primarily supplying the automotive end market. Prism operates 35 presses from two locations in Michigan and one in Texas (serving Mexico). Prism ships more than 500 million parts per year.
Tech Molded Plastics
(ttmp.com) Founded in 1973 as a family-owned business, TMP specializes in high performance molding of engineered resins for complex applications. From design and development of precision tooling, through production of close tolerance molded plastics, TMP operates 36 presses in Pennsylvania.
Altus Capital Partners
(altuscapitalpartners.com) Altus is a private equity company headquartered in Wilton, CT with offices in Lincolnshire, IL. Altus invests alongside management teams in profitable small to medium-sized manufacturing companies domiciled in the U.S. that have proprietary technologies, processes, and products. Altus Capital is currently investing a $200 million private equity fund.
Miller Johnson’s Mergers and Acquisitions Group
Miller Johnson’s M&A practice group is adept at negotiating, structuring, and advising clients with respect to the various challenges that arise in the context of mergers, acquisitions, dispositions or other business combinations.
Miller Johnson has a tier one ranking for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked among America’s best by Chambers USA. At the 2015 M&A Deals and Dealmakers Awards presented by the Association for Corporate Growth (ACG) West Michigan chapter and MiBiz, Miller Johnson attorneys were involved in a deal honored as a finalist for the Best Company Deal ($25 million to $150 Million) category. Another Miller Johnson transaction was a finalist at the national 2015 M&A Advisor Awards. For further information, please contact Robert D. Wolford at (616) 831-1726 or Dustin J. Daniels at (616) 831-1737.