Stevenson & Company completes the sale of Paramount Plastics, LLC
Result: Business Sold to Strategic Buyer
Industry: Manufacturing – Plastics Company
Stevenson & Company completed the sale of Paramount Plastics, LLC, headquartered in Lockport, IL, to Xten Industries of Kenosha, WI.
Founded in 1990, Paramount Plastics has a solid reputation for mid-to-large tonnage molding of high-quality parts made of engineering grade plastic resins. Its diverse base of customers supplies the industrial, agricultural, appliance, electrical, automotive, and transportation markets. Paramount operates 24 presses ranging in size from 60-2,000 tons and is ISO/TS 16949:2002 certified. Its state-of-the-art manufacturing facility is 122,000 square feet and located in an ideal Midwest location for product distribution.
Stevenson & Company identified Xten Industries in its nationwide search for strategic buyers that would complement the strengths of Paramount. Xten had immediate expansion needs and Paramount was an excellent fit with its overall growth plans. “We are very excited about the addition of Paramount, which greatly increases Xten’s production capabilities and substantially expands our customer base”, states Matt Davidson, Xten CEO and Co-founder.
Doug Mulay, President of Paramount Plastics comments that ”Stevenson did a great job in identifying and bringing to the table a number of quality buyers and offers. We were able to select the best strategic partner that met the goals of the ownership team”.
Stevenson served as an excellent trusted advisor throughout. They provided me with precisely what I needed – an aggressive go-to-market approach, the guidance to present Aerostar’s story and future strategy, and the drive to get it successfully closed! And this is what retirement looks like!