ShoreView sells Protective Industries
ShoreView is pleased to announce the successful sale of Protective Industries to Windjammer Capital Investors. ShoreView partnered with Protective through a management buyout transaction in September 2005.
The prior owners were seeking liquidity after a period of significant growth, and management was seeking a strong financial partner going forward. ShoreView structured a transaction that:
- Provided significant liquidity to the non-managment shareholders
- Allowed management to retain day-to-day operating control of the business
- Gave the management shareholders a substantial “second bite at the apple” (opportunity for second liquidity event)
The results of this partnership were exceptional as Protective increased its market share, completed an acquisition in China, expanded its product offering and customer base, and as a result, significantly increased its revenue and cash flow during our investment period.
About Protective Industries
Protective Industries is the leading designer, manufacturer and marketer of injection-molded plastic and vinyl protection products in North America.
The Company manufactures a full line of catalog and custom protective products that are used in a wide variety of industrial applications and include caps, plugs, edge liners and grommets, wrap-around tapes and discs, netting and tubing. The Company’s products are marketed under the brand name Caplugs®.
About ShoreView Industries
ShoreView Industries, based in Minneapolis, manages $600 million in private equity funds. ShoreView invests in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $30 million and $200 million.