Using The Power of Innovation as their guiding principle, Optimum Plastics’ future direction will be guided by Kevin Keneally, the former CEO of Bloomer Plastics and now the CEO of the combined organization. Bloomer Plastics, established in 1971, is a cast embossed film production company with a focus on customization and specialized engineering of value-added film and extrusion laminated structures. The company operates primarily in the automotive, aerospace, construction, healthcare, agriculture, office products and release liner markets. In 2014, Bloomer announced a major company-wide debottlenecking and new equipment expansion project designed to support its growth initiatives.
“The acquisition of Optimum Plastics is the ideal synergistic compliment to our existing business,” said Keneally. “Optimum Plastics is a 3-layer and 9-layer blown film provider with a significant position in the packaging industry, as well as the automotive industry. Now, we can produce the perfect film solution for clients and prospects of both companies regardless if they need a cast or blown product.
"It’s a significant market advantage for us and we have already begun to capitalize on our expanded capabilities,” added Keneally.
Complimenting this synergy will be an enhanced marketing strategy starting with a new corporate identity followed by new brand messaging and corporate power statements. The company has already launched a new website, www.optimumplastics.com, that highlights much of the new messaging and the brand identity.
Keneally indicated that the company will continue to focus on their proprietary Innovation Process, which allows Optimum Plastics to work closely with customers to create customized products that are first-to-market. According to Keneally, other critical areas of focus will be the company’s commitment to providing value-engineering services to clients, Optimum Plastics’ extensive knowledge about material science in general and resins in particular, their long-standing tradition of superior quality and service excellence, and an aggressive plan to maintain and build on their organization of top industry talent.
Optimum Plastics is owned by Huron Capital Partners, an operationally-focused private equity firm investing in lower middle-market companies, and by members of Optimum Plastics’ corporate leadership team.
About Optimum PlasticsBloomer Plastics was founded in 1971 and Optimum Plastics was established in 1996. Historically, both Bloomer Plastics and Optimum Plastics have experienced impressive long-term growth, expansion of their facilities, and increases in their workforce. Optimum Plastics now employs over 140 people at their locations in Bloomer, WI and Delaware, OH. Today, the new, combined company focuses on cast and blown film solutions with a core competency on product customization and innovation. Learn more about Optimum Plastics at www.optimumplastics.com
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through its customized ExecFactorSM buy-and-build investment model. Huron prefers complex situations where it can help companies reach their full potential by combining its operational approach, substantial capital base and transaction experience with proven operating executives. Founded in 1999, Huron has raised over $1.1 billion in capital through four committed private equity funds, invested in over 90 companies, and its portfolio companies have employed over 7,500 people throughout North America. The Huron ExecFactorSM buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs and management buyouts of companies having revenues up to $200 million. Huron's sector focus includes specialty manufacturing, business services, consumer goods & services, and healthcare. For more information, please visit www.huroncapital.com