August 2, 2016
Wind Point Partners Acquires Aurora Plastics
Wind Point invests in industry-leading custom PVC compounder
Chicago, IL, August 2, 2016 – Wind Point Partners, a Chicago-based private equity firm, and Ontario Teachers’ Pension Plan (Ontario Teachers’) have partnered with industry veteran Mike Fitzpatrick to acquire Aurora Plastics, Inc. (“Aurora” or the “Company”). Based in Streetsboro, OH, Aurora produces customized rigid polyvinyl chloride (“RPVC”) compounds for extruding and injection molding customers throughout North America. Aurora provides industry leading quality and service through highly-automated manufacturing facilities in Ohio and North Carolina.
“We are excited to acquire Aurora in partnership with Ontario Teachers’ and invest in the next phase of growth,” said Nathan Brown, Managing Director with Wind Point. “Aurora’s prior ownership and current management have established a culture of excellence and innovation, and our investment will support the management team’s new product development and expanding geographic reach.”
“We are excited to acquire Aurora in partnership with Ontario Teachers’ and invest in the next phase of growth."
- Nathan Brown, Managing Director
Mike Fitzpatrick will serve as the Chairman of Aurora’s holding company. Mike has been an executive advisor partner (“EAP”) at Wind Point since 2005, and from 2007 to 2012 served as Chairman and CEO of Citadel Plastics Holdings (“Citadel”), a leading compounder of thermoplastic and thermoset resins with 14 plants and over 600 employees. During his tenure, Mike helped triple the size of Citadel through international expansion, acquisitions, and new products and technologies development. Mike will be joined on Aurora’s Board of Directors by Guy Broadbent, also a Wind Point EAP who most recently served as CEO of Argotec, a Wind Point-owned specialty plastic film producer that doubled in size over two years.
“Aurora has grown into the highest-quality PVC compounder in the industry,” said Fitzpatrick. “Aurora’s world-class, highly-automated facilities ensure consistent product quality and serve as a testament to the culture of excellence throughout the organization.”
Wind Point is an active investor in plastic compounding, extrusion, film and converting businesses with previous and current investments including Citadel Plastics, Argotec and Novolex.
Financing for the transaction was provided by Antares Holdings, LStar Capital, CPPIB and TIAA Global Asset Management. ReedSmith represented Wind Point as legal counsel and KPMG provided transaction advisory services on the deal.