Milwaukee mergers and acquisitions advisory firm Bridgewood Advisors Inc. has completed the sale of Menomonie-based Polymer Technology Corp. The financial terms of the transaction were not disclosed.
The plastic injection molding company, which focuses on the medical and life sciences markets, was acquired by two private equity firms—St. Louis-based Capital for Business and Omaha-based First Capital Partners. The acquisition was made in conjunction with the company's management and Chicago-based Magna Capital.
"We generated strong interest for Polymer Technology, particularly from private equity," said Robert Jansen, managing director at Bridgewood Advisors. "This is a great example of high-performing companies being in demand in today's M&A market. Our client chose private equity to partner with management, build upon their legacy, and take the business to the next level."
Polymer Technology, founded in 1997, has about 50 employees at its 30,000-square-foot facility in Menomonie. The company's unique capabilities in robotic and clean-room handling make it an ideal supplier for original equipment manufacturers in the medical device, genetic testing, defense and commercial markets.
"It was important to find a buyer who had the resources for growth, yet would also preserve our team and allow management to have ownership," said Tom Cervenka, a former Polymer owner.