“The decision to sell the company was not an easy one, particularly since it was a part of our family for so many years,” said Hauck. “There were many objectives — personal, business, and financial — that we were focused on achieving.”

CLA’s investment banking team advises on the sale of PM Mold Company, a Midwest-based manufacturer of custom plastic injection molded parts and custom molds.

Joe Baez, managing principal of office in CLA’s Greater Chicagoland region, had been working with the company for more than 10 years and brought in CLA’s investment banking team when they were considering the sale of their business. The transaction was a seamless effort completed with support from CLA’s investment banking, quality of earnings, tax, and outsourced accounting practices.

Today, CLA (CliftonLarsonAllen LLP), the eighth largest accounting firm in the United States, announced it helped PM Mold Company (PM Mold) find a new owner.

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PM Mold, a highly regarded and well-established vertically integrated manufacturer of custom plastic injection molded parts and custom molds, has been acquired by NewCo Plastics, a portfolio company of White Wolf Capital. CLA served as the exclusive financial advisor to PM Mold. Terms were not disclosed.

The report analyses the global medical plastics market based on application and resin type. These segmentations are further analyzed at the global and regional levels. The base year considered for analysis is 2022, and the market estimates and forecasts are given from 2023 to 2028. The scope for the medical plastics market is segmented into application and resin type.

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Dublin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The "Medical Plastics: Global Markets" report has been added to ResearchAndMarkets.com's offering.

Founded in 1963, PM Mold was founded by Olav Bradley and Norbert Hauck as a tooling only manufacturer. Today, the company operates out of two facilities in Schaumburg, Illinois with both tooling and injection molding capabilities. Larry Hauck, son of Norbert Hauck, and Tom White, Olav Bradley, and David Bradley were the company’s owners prior to the sale. Larry and Tom will remain partners and will continue to manage PM Mold post-closing.

Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.

PM Mold provides a comprehensive suite of manufacturing services from product design to final shipment to its customers, operating in industries such as automotive, appliances, military, aerospace, electrical, consumer goods, and agriculture.

NewCo Plastics is a plastics manufacturing platform formed by White Wolf Capital to acquire North American plastic injection molding and manufacturing companies. PM Mold will join Hilco Technologies, a provider of thermoplastic and gas-assist injection molding, abrasion resistant hard-coating, and rapid prototyping services, in the NewCo Plastics platform.

Accounting Today’s “The Top 100 Firms and Regional Leaders” 2022 ranking was assembled using survey data from more than 300 tax and accounting firms across the country. Firms were ranked by their self-reported revenue. Where two different firms reported equal revenue, the firm with the higher percentage of revenue increase received the higher ranking. CliftonLarsonAllen did not pay a fee to participate in this ranking.

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Medical plastics go through a variety of plastic fabrication and screening processes to produce a variety of standard-compliant medical devices and instruments, including sutures, dental instruments (suction tips, dam clamps, cotton roll holders, etc.), infusion bags, disposables (syringes), sterilization trays, and medical implants before being used in the healthcare manufacturing sector.Increasing surgical, hospital, and outpatient operations, combined with the enforcement and upgrading of various infection prevention standards, are expected to fuel market growth. The price volatility of multiple resins, such as polyethylene (PE), polypropylene (PP), and polycarbonate (PC), has been significantly influenced by variations in oil prices. Changes in capacity have also influenced the market's price volatility.In March 2021, U.S. President Joe Biden suggested allocating $400 billion over eight years to Medicaid to pay for at-home care for the elderly and disabled as well as raise carers' pay. Because home care lowers healthcare expenses and is more practical for patients, the COVID-19 epidemic has made it more desirable than nursing home settings. This is anticipated to raise the demand for home care medical consumables and devices, which can positively impact the market growth in theFour geographical regions have been identified for the medical plastics market: North America, Asia-Pacific, Europe, and Rest of World (the Middle East and Africa, and Latin America). In 2022, the global market for medical plastics was dominated by the North American region. North America holds a 42.3% share of the global medical plastics market. A few of the main factors propelling the North American market are the existence of several domestic and foreign companies, the accessibility of resources, technological advancements, and the spike in demand for medical components.

“We wanted to find the right organization to transition ownership to and one that would help us to continue growing the company. The new partnership with NewCo Plastics allows us to meet those objectives, and the role CLA played in getting us here was instrumental,” said Hauck and White.

Ian Sylvan, a managing director on CLA’s investment banking team and lead on the transaction, said, “We knew the PM Mold shareholders were weighing a variety of factors in the consideration of selling their business. We worked closely with the owners to help them meet their financial and non-financial objectives.”

CLA investment banking professionals provide sophisticated corporate finance advisory and investment banking services to middle-market businesses and owners. The practice’s services include mergers and acquisitions, recapitalizations, and other transaction-related advisory services.

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