The private shareholders of Partners In Plastics, Inc. (PIP), based in Sharon Center, Ohio, have announced the sale of the company to an affiliate of Austin Capital Partners, L.P., a Cleveland-based private equity firm, for an undisclosed consideration.
PIP is the leading manufacturer of custom blow molded plastics products for a variety of end markets in its geographic footprint, which includes the Eastern and Midwestern United States. Greg Vincent founded PIP in 1993 to provide enhanced blow molding capabilities to The Step2 Company, an original equipment manufacturer of children’s toys. Since then, PIP has expanded its offering of the highest quality blow molded products into numerous other end markets, including healthcare, lawn and garden, agriculture, consumer products, industrial and fuel tanks.
Austin Capital Partners L.P. is a private capital fund that invests in smaller middle market companies in low and mid-technology manufacturing and related businesses in the Ohio and Lower Great Lakes regions.
Oaklins' team in Cleveland advised the seller in this transaction.
Mark A. Filippell
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