River Cities Invests To Grow MedPlast
River Cities Capital Fund IV is pleased to announce an investment in MedPlast, a manufacturer of precision molded plastic and rubber components serving the healthcare and select industrial markets. Concurrent with the financing, MedPlast simultaneously acquired ATP’s Engineered Rubber & Plastics Group and K&W Medical Specialties, Inc. Headquartered in Tempe, Ariz., MedPlast will operate five plants across the United States with approximately 800 employees.
The Company’s goal is to leverage its capabilities in product design, engineering, manufacturing and automation to become the preferred supplier in its niche markets. “K&W and ERPG each share a reputation for strong customer service and an unwavering commitment to technical excellence. By combining the talent and complementary capabilities of each organization, Medplast is uniquely positioned to meet the increasing demands from the healthcare and specialty industrial markets,” said Rob Heimann, Principal of River Cities and new MedPlast board member.
As part of the transaction, Harold Faig will join the combined company as CEO. Faig has more than 35 years of experience in plastics and medical contract manufacturing. Most recently, he was CEO of The Tech Group, Inc. and was previously President and COO of Milacron, Inc. “This is a tremendous opportunity for everyone involved with MedPlast,” explains Mr. Faig. “What separates MedPlast from the competition is our thermoplastic, silicone, and rubber molding capabilities, combined with our human resource talent and engineering / manufacturing expertise.”
River Cities Capital Fund IV co-invested with management and Baird Capital Partners, who led the transaction. The investment team at River Cities Capital Funds includes Rob Heimann and Glen Mayfield.