03 May 2017

Miller Johnson Represents Altus Capital Partners in Sale of PRISM Plastics, Inc.

The Transaction
In April 2017, Altus Capital Partners (Altus) sold PRISM Plastics, Inc. (PRISM), a technologically advanced Michigan-based manufacturer of high-precision plastics, to a subsidiary of Marmon Engineered Components Company (Marmon). Altus acquired PRISM in June 2014 alongside its founders to support PRISM’s growth and expansion efforts in the high-precision plastics market. During Altus’ ownership, PRISM completed a variety of organic growth initiatives as well as the June 2016 acquisition of Tech Molded Plastics, Inc. (Tech Molded), a Pennsylvania-based precision plastics company.

Altus Co-Founder and Senior Partner Gregory L. Greenberg said, “the Altus team recognized the strength of PRISM’s position in the industry and, specifically, the deep knowledge and capabilities of its leadership and employees. We accomplished what we set out to do in growing PRISM, including the add-on acquisition of Tech Molded, during our firm’s investment tenure.”

Miller Johnson acted as legal advisor to Altus in the original acquisition of PRISM, the add-on acquisition of Tech Molded and the sale of PRISM to Marmon. Miller Johnson’s team for the sale of PRISM included Bob Wolford (M&A Counsel), Dustin Daniels (M&A Counsel), Dustin Jackson (Corporate), Brittany Harden (Corporate), Loic Dimithe (Corporate), Neil Williams (Tax), Eric Starck (Real Estate), Mary Bauman (Employee Benefits), Frank Berrodin (Employee Benefits), Nate Plantinga (Employment) and Alan Schwartz (Environmental).

Altus Capital Partners
( Altus is a private equity firm with offices in Connecticut and Illinois that makes controlling investments in middle market manufacturing businesses. 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.

Marmon Engineered Components Company
( Marmon Engineered Components Company is one of four autonomous companies for Marmon Holdings, Inc., a global, diversified industrial organization, which is a subsidiary of Berkshire Hathaway Inc. Marmon operates more than 350 manufacturing, distribution, and service facilities, and employs about 20,000 individuals worldwide, with revenues totaling approximately $8 billion in 2015.

Miller Johnson’s Mergers and Acquisitions Group
Miller Johnson’s M&A practice group collaborates with clients and their advisors to structure, negotiate and close deals and to navigate the various challenges that can arise in the context of mergers, acquisitions, dispositions and other business combination or investment transactions.

Miller Johnson is listed 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 M&A Deals and Dealmakers Awards presented annually by the Association for Corporate Growth (ACG) West Michigan chapter and MiBiz, Miller Johnson attorneys are consistently involved in deals honored as finalists for the Deal of the Year categories. For further information, please contact Dustin Daniels at (616) 831-1737 or Erik Daly at (616) 831-1723.