Long Point Capital is pleased to announce the sale of Precision Products Group, Inc. ("PPG") to Auxo Investment Partners and PPG management.
PPG is a leading niche manufacturer of small diameter spiral-wound tubes and cores, as well as specialty packaging, primarily for the electrical insulation, consumer, and medical markets. PPG targets niche applications that require tight tolerances, unique materials, or difficult-to-produce shapes such as squares or rectangles. Through its Euclid Medical Products division, PPG provides single and multi-dose pharmaceutical packaging consumables, software and equipment to hospitals, retail pharmacies and long-term care facilities.
Long Point Capital led the acquisition of PPG in 2013 and assembled an investment partnership that includes Greyrock Capital, a mezzanine debt and equity firm. Over the course of the investment, PPG completed two strategic add-on acquisitions that expanded its leadership position in spiral wound tubes and cores and positioned PPG as a leader in the unit-dose equipment and consumables market. PPG also successfully grew and divested the company’s Aardvark Paper Straw division to Hoffmaster Group.
Eric Von Stroh, Partner at Long Point Capital commented, “It has been a privilege to partner with Dave Hooe, Chad Heathco and the PPG management team. PPG has evolved into an innovation-driven company capable of meeting customer needs across a diverse range of products and markets.”
Dave Hooe, President & CEO of PPG, added, “Long Point was a great partner. During our partnership we were able to achieve our strategic plan. I appreciated their thoughtful support and guidance in building and growing our business.”
For more information reach out to the deal team: Eric Von Stroh or Daniel Ron.