GRAND RAPIDS, MICH. (Aug. 28, 3:05 p.m. ET) — Two private equity companies have joined with the management team at Hilco Plastics Holdings LLC in a recapitalization that will provide funding to support continued growth.
White Wolf Capital LLC of New York and Gemini Investors of Wellesley, Mass., joined in the recapitalization of Grand Rapids, Mich.-based Hilco.
Hilco is a growing, profitable injection molder which will be able to use the funding to achieve its growth potential, said Matt Miller, a managing director of BlueWater Partners, a Grand Rapids financial advisor that worked with Hilco on the transition. The move also provided funds for a partner in the company to retire.
Current employees will remain with Hilco, which has two facilities in Grand Rapids and third site in the Detroit suburb of Armada Township.
Hilco has injection molding, over molding, insert molding, gas-assist production and compression molding as well as a hard coating system. It produces parts for the auto, medical, furniture, marine and other industries.
