Polymer
Corporation, a leading manufacturer of low-volume, close-tolerance
plastic parts and assemblies based in Rockland, Mass., announced that
it has been acquired by Polymer’s management team and
lower-middle-market private equity firm Prospect Partners, LLC, of
Chicago, Ill. Polymer had been a portfolio company of the private
equity firm North American Fund, also of Chicago.
The sale
came as North American Fund, which had owned Polymer since 1997, was
approaching the end of its term. The additional funding from Prospect
Partners enables Polymer to aggressively execute growth strategies
through internal development as well as through strategic alliances
and acquisitions.
Founded
in 1979, Polymer produces plastic parts and assemblies for a diverse
nationwide group of blue-chip companies primarily in three niche
market segments – medical equipment and instrumentation; firearms
components and accessories; and defense, security, and aerospace. It
also serves other industrial companies with demanding applications.
Polymer operates
from facilities in Rockland and Monson, Mass., and also produces
tooling and injection-molded parts in Asia.
For more
information, visit
www.polymercorporation.com.