Long Point Capital, Inc. is pleased to announce the recapitalization of Precision Products Group, Inc. (PPG), a leading niche manufacturer of small diameter spiral-wound tubes and cores primarily for the electrical insulation and packaging markets.
Headquartered in College Park, Maryland, PPG targets niche applications that require tight tolerances, unique materials or difficult to produce shapes such as squares or rectangles. PPG operates through its Stone and Paramount divisions, with facilities in College Park, Maryland and Fort Wayne, Indiana, respectively. The company has also established an Asian presence through its Chinese joint-venture located near Huizhou City, China. To learn more about the company please visit www.ppgintl.com.
Dave Hooe, the President and CEO of PPG, along with the rest of the PPG management team, will continue to lead the Company and operate the business day-to-day. "We are looking forward to our partnership with Long Point Capital," said Dave Hooe. "Long Point Capital's expertise in working with middle-market companies to provide strategic support will be welcome. In particular, Long Point's expertise in acquisitions will allow us to accelerate the growth of our business."
"Dave and his team have done a tremendous job building PPG. We are excited to be partnering with such an outstanding management team and look forward to helping them realize their growth plans," said Eric Von Stroh, Managing Director at Long Point Capital.
Long Point Capital led the transaction and assembled an investment partnership that includes Greyrock Capital Group, a mezzanine debt and equity provider for middle-market buyouts and recapitalizations.
If you have any questions about the transaction, please contact Eric Von Stroh, Ira Starr or Norm Scherr.