January 16, 2013
Los Angeles, CA - Capstone Partners LLC, a leading national investment banking firm serving the needs of middle market business owners, has advised the shareholders of CCW Products, Inc. and its sister company, CCW Distributors, Inc. in its sale to Priority Plastics, Inc. With this transaction, Capstone’s Packaging Group, headed by David Bench, adds another completion to Capstone’s growing list of transactions involving packaging-related companies.
CCW, based in Arvada, CO, is an extrusion blow-mold manufacturer of FDA approved food grade PVC and PET plastic containers in a variety of shapes, sizes and fluid capacities. With over 100 employees, CCW specializes in wide mouth containers providing over 300 SKUs for more than 500 customers throughout the US.
Priority Plastics, Inc., headquartered in Portland, IN, is a national plastics manufacturer of custom and stock plastic containers providing complete plastic container solutions from its six US manufacturing plants for startup companies to multinational firms.
The acquisition expands Priority Plastics’ footprint across the US and increases its product offerings. “CCW is a great fit for Priority. With a similar culture and 30 year business history, our two companies will meld together well,” says Andrew Srenco, President & CEO, Priority Plastics, Inc.
Gary Turner, Chief Operating Officer of Priority Plastics, added, “Our specialty is in blow molding, which is one of the most technical areas in plastics manufacturing. With the combination of CCW's PVC and PET containers and Priority's products, our customers will have more options available to them.”
The sale of CCW allows the second generation of the founder’s family to retire after a short transition period and assures the retention of CCW’s employees as Priority expects production of CCW’s products to continue in Colorado for many years to come. David Bench, Capstone’s Managing Director on the assignment noted that, “This ownership change is a win all the way around – for my clients, the sellers, as well as the buyer, the employees and the customers. That makes for a very satisfying transaction.”
Capstone Partners LLC is a leading national investment banking firm dedicated to serving the corporate finance needs of middle market business owners, investors and creditors. The firm provides merger & acquisition, private placement, corporate restructuring, valuation and financial advisory services. Capstone maintains various industry specialties including packaging products. The firm also possesses merchant banking capabilities to actively co-invest in transactions.