BACKING AN “UNDISCOVERED” INDUSTRY PIONEER
Technimark (or the “Company”) was a leading global manufacturer of plastic injection molded products for consumer packaging and specialty technical applications. Based in Asheboro, NC, at the time of our investment, the Company operated five injection molding facilities globally, including one in North Carolina, two in Mexico, one in China and one in Germany. The Company also operated a recycled resin processing facility in North Carolina, providing processed post-consumer and post-industrial resin for use in Technimark’s and other companies’ finished products. Technimark served a broad and distinguished customer base that included some of the world’s best-known brands. Prior to our investment, Technimark was owned by a foreign furniture manufacturer. Quad-C was attracted to the business as a technology leader with superb customer relationships that was relatively unknown outside its existing customer base. We partnered with the original founders to acquire the business from its corporate parent and invest in growth.
EXECUTING THE STRATEGY
With the support of Quad-C, management executed the value creation plan which included:
During Quad-C’s investment period, Technimark made approximately $100 million in capital investments and grew sales by more than 120%.
After almost seven years of strong organic growth, customer diversification and a transition of the business to consumer packaging, Quad-C sold Technimark in April 2014.