Blow molder Hillside Plastics Inc. has been sold to Carr Management Inc., a New Hampshire-based blow molder and a portfolio company of private equity firm Behrman Capital.
Terms were not disclosed.
Hillside Plastics, based in Turners Falls, Mass., blow molds containers including a proprietary Sugarhill Pure Maple jug. It supplies dairy, and food and beverage, chemical, household, automotive and industrial markets.
Carr Management is based in Nashua, N.H., and specializes in blow molded high density polyethylene bottles for dairy, water, food, industrial and nutraceutical customers. Founded in 1999, it has six manufacturing sites, in Poland Springs, Maine; Reading, Pa.; Newark, Del.; Hebron, Ky.; Fresno, Calif.; and Corona, Calif.
Behrman, based in New York and San Francisco, invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. It focuses on three industries: defense and aerospace, health-care services, and specialty manufacturing and distribution.
“When we acquired CMI in 2014, we saw an opportunity to accelerate the company's growth through the acquisition of other high-quality blow molding manufacturers,” said Grant Behrman, managing partner of Behrman Capital, in a news release. “The addition of Hillside gives CMI a complementary product offering for growing end markets and enables both companies to access customers in new geographies.”
P&M Corporate Finance was a financial adviser to Hillside Plastics.