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Capstone Partners Advises GI Plastek Wolfeboro LLC on its Sale to Wincove Capital

August 2009

Boston, MA - Capstone Partners LLC, a leading national investment banking firm, announced that it has successfully advised GI Plastek Wolfeboro, LLC on its recent acquisition by Wincove Capital, a lower middle market private equity firm.  The terms of this transaction were not disclosed.
 
Based in Wolfeboro, New Hampshire, GI Plastek is a premier manufacturer of highly-engineered plastic injection molded products and is an industry leader in standard high-pressure, structural foam, gas-assist and gas counter pressure plastic injection molding methods.  GI Plastek specializes in large, complex plastic parts and often deals with specialized resins that many companies are unable to mold.  The Company serves a diverse range of end markets, including the military, educational, medical, industrial, construction and leisure market segments.  www.giplastek.com
 
Jacob Voorhees, one of the lead bankers on the Capstone deal team, commented, “This transaction will allow the Company to continue its strong history of success and afford management additional support to pursue several growth initiatives that they have in place, such as expanding the customer base, penetrating new end markets and opportunistic acquisitions.”
 
Capstone’s team identified GI Plastek Wolfeboro LLC as a leader in the plastics injection molding industry.  Supported by its research efforts and distribution channel, Capstone represented GI Plastek in the capital markets and ultimately delivered the best available fit.  Wells Fargo Business Credit, based in Boston, provided the senior credit facilities to support Wincove's acquisition.  Spring Capital Partners, with offices in Baltimore and Philadelphia, and MB Capital, based in Boston, invested subordinated debt in the transaction.
 
Wincove Capital is a New York-based lower middle market private equity firm that was launched in 2008.  Wincove partners with profitable companies to help accelerate their growth and ultimately unlock value. The acquisition of GI Plastek is Wincove's second transaction.

 

“Our transaction was highly difficult and complex and we encountered many hurdles. Capstone was instrumental in keeping the team focused on the goal. We were very impressed with the level of preparation, thoroughness and dedication that the Capstone team exhibited. This deal closed because of Capstone’s long hours and creative problem solving.” 
Randy Herman
President, Chief Executive Officer
GI Plastek