GRAND TRAVERSE PLASTICS CORP. HAS BEEN ACQUIRED BY COVINGTON PARTNERS LLC
Birmingham, Michigan – December 19, 2018 – Angle Advisors is pleased to announce that Covington Partners LLC (“Covington”) has acquired Grand Traverse Plastics Corp. (“GTP” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to GTP in completing this transaction.
Based in Williamsburg, Michigan, GTP is a leading Tier I supplier of engineered plastic assemblies. The Company is a designer and manufacturer of products with high value-added content for the quickly growing automotive under-the-hood (“UTH”) plastics market. GTP also serves the rapidly expanding material handling industry with engineered conveyor system components. Targeting technically-challenging applications, the Company’s products feature high value-added content (painting, decoration, insert molding, assembly, etc.). GTP maintains a proven ability to efficiently produce products to exacting tolerances using difficult-to-mold, engineered resins (glass-filled and flame-retardant nylons) while maintaining aesthetic requirements. As a full service Tier I supplier, the Company supports its OEM customers with resident engineers and “black box” product engineering services. GTP’s integrated manufacturing engineering team delivers low cost manufacturing solutions through leveraging in-house tool design/production and automation engineering. With injection molding presses ranging from 230 to 1,100 tons, the Company maintains a full range of value-added process technologies (mold-in color, molded-in fasteners, insert molding, etc.) and value-add services (assembly, pad printing, and hot stamping).
Covington Partners is a boutique principal investment that leverages deep sector knowledge, transaction experience and executive relationships to generate compelling investment opportunities. For more information, please visit www.covingtonllc.com.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the vehicular and industrial sectors. The firm’s professionals have completed 200 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.