Huron Capital Partners announced today that its portfolio company, Wisconsin-based Bloomer Plastics, Inc., has acquired Delaware, Ohio-based Optimum Plastics. Bloomer Plastics is a leading producer of custom engineered cast embossed films for the industrial, medical and packaging markets, while Optimum Plastics is a technology leader and pioneer in high barrier coextruded blown films.
Matt Hare, Vice President at Huron Capital, said, "Optimum is a great fit with Bloomer, and this acquisition is right in line with Huron's buy-and-build strategy of partnering with strong management teams and investing for growth."
The combination of engineered blown film with Bloomer's existing portfolio of custom designed cast film is directly aligned with its fundamental strategic initiatives and is core to the company's growth plans. This is a significant move for Bloomer, as it will nearly double the revenue and employee base.
"We're proud to welcome Optimum into the Bloomer Plastics family," said Kevin Keneally, President and CEO of Bloomer Plastics. "Bob Clemons and his team have assembled the finest set of multi-layer high barrier film assets in the stand alone film market. We look forward to continuing their investment in state of the art technologies for our mutual valued customers."