Fremont Plastics has been acquired by TEQ Packaging, a subsidiary of ESCO Technologies
Southfield – CFI USA (P&M Corporate Finance LLC) is pleased to announce that it served as the exclusive financial advisor to privately held Fremont Plastics, Inc. (“Fremont”) of Fremont, IN in its successful sale to TEQ Packaging (“TEQ”), of Huntley, IL. TEQ is a subsidiary of publicly traded ESCO Technologies Inc. (NYSE: ESE) of St. Louis, MO. Financial terms of the transaction were not disclosed.
Fremont (www.fremontplastics.com) is a manufacturer of high quality sterile-ready and non-sterile thermoformed medical plastic products. Founded in 1980, the Company has carefully earned a position as a trusted and qualified supplier to the medical industry by establishing itself as a vital link in the supply chain. Today, Fremont serves global medical leaders from its state of the art, controlled environment manufacturing facility in a strategically located Midwest location.
TEQ (www.teqnow.com) is a custom thermoformer dedicated to providing high quality thermoformed plastic packaging and products to medical, electronic, and commercial markets. ESCO acquired TEQ from Schawk Inc. in 1997. TEQ operates two facilities in Huntley, IL for the manufacture of class II medical devices including a clean room facility that is ISO 13485:2003 registered and cGMP compliant.
Fremont was founded by Lyndon Tucker, an Indiana-based entrepreneur, and has steadily grown alongside its medical customer base. With the Company’s management team having assumed operational responsibility, Tucker elected to sell the business and will retire following a transition period with TEQ. Fremont’s employees and manufacturing operations will continue, at the current facility, under TEQ’s ownership.
Tucker selected John Hart and the USA’s Plastics & Packaging Group to serve as exclusive financial advisor for the transaction. Tucker noted, “It was very important for me to find the right buyer that would continue to serve my long-term customers with the same quality and service. At the same time provide opportunities for my dedicated employees. John and his team were instrumental in helping me evaluate prospective buyers and guide me through each step of this once in a lifetime transaction. Without John and his group the process would have taken much longer and potentially without the same worthwhile results. I would highly recommend them to any business owner considering a potential transaction.”
The transaction closed in November 2015.
The testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.
Related
Paper, Plastics & Packaging
has been acquired by
a subsidiary of
Transaction details
TEQ, a subsidiary of ESCO Technologies, which is a custom thermoformer acquires Fremont Plastics, a manufacturer of high quality sterile-ready and non-sterile thermoformed medical plastic products
This transaction was advised by:
Our latest transactions
Business Services
has been acquired by
a subsidiary of
Transaction details
Reolon, a regional insurance brokerage firm focused on agribusiness, has been sold to Alper Seguros, a subsidiary of Warburg Pincus
Business Services
has sold its German railway infrastructure engineering business to
Transaction details
WSP Global has sold its German railway infrastructure engineering business WSP Infrastructure Engineering GmbH to Arcadis
Business Services
has been acquired by
Transaction details
Management Due Diligence consultancy company Confidas People has been acquired by LCap Group
Energy, Environment & Natural Resources
has acquired a minority stake in
Transaction details
Utility and waste management provider SWK AG has acquired a minority share in FRONTERIS Group as part of its growth strategy
