Goldsmith Agio Helms Announces the Sale of Elkhart Plastics to Promens.MINNEAPOLIS -- Goldsmith Agio AGIO, aggio. This term is used to denote the difference of price between the value of bank notes and nominal money, and the coin of the country. Encyc. Helms is pleased to announce the sale of Elkhart Plastics, Inc. ("EPI EPI exocrine pancreatic insufficiency. "), a leading U.S. custom manufacturer of rotationally molded plastic products, to Iceland-based Promens hf, the world's largest manufacturer of rotationally molded plastic products with operations in Europe, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , and Asia. Promens is owned by Atorka Group hf, an Iceland-based publicly traded investment company that trades on the Icelandic Stock Exchange (ICEX ICEX Instituto Español del Comercio Exterior :ATOR). HIGHLIGHTS FROM THE TRANSACTION As a result of the acquisition, EPI has been combined with the North American operations North American operation Surgical oncology Radical surgery of a 'frozen pelvis', consisting of radical en bloc resection of the uterus and urinary bladder. See 'Frozen pelvis.'. Cf 'All-American' and 'South American' operations. of Promens hf, which consisted mostly of the 2005-acquired operations of Bonar Plastics, to form Promens North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Group ("PNAG"). PNAG primarily sells products to original equipment manufacturers and other companies in the recreational vehicle, marine, chemical, agricultural, highway safety, and other industries. In addition, PNAG sells proprietary products, the largest of which being insulated tanks used to ship fresh fish. Total PNAG annual sales will be approximately $100 million. Jack Welter, the former primary owner and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of EPI and now the President and CEO of PNAG, is excited about his new company's prospects. "We look to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the substantial synergies from the combination of Promens' North American operations and EPI. We also look forward to adopting the best ideas and practices developed at Promens' extensive operations in Europe and Asia. Finally, we expect to aggressively expand our North American business into new geographic and end-user markets." As part of the transaction, Mr. Welter is now a substantial minority investor in the parent of PNAG, Promens hf. Goldsmith Agio Helms has completed more than 50 M&A assignments in the plastics industry. Bill Jarrett, managing director, said, "The opportunities for synergies resulting from this transaction are tremendous given the leading and complimentary market positions of EPI and Promens in North America, the entrepreneurial and highly successful EPI management team led by Jack Welter, and the corporate infrastructure and financial resources of Promens and its parent company, Atorka." THE COMPANY Elkhart Plastics, Inc. (www.elkhartplastics.com), established in Middlebury, Indiana Middlebury is a town in Elkhart County, Indiana, in the United States. As of the 2000 census, the town population was 2,956. In the early 1830s, settlers came from Middlebury, Vermont, to locate in Indiana. in 1988, is a leading competitor in the fragmented $1.5 billion rotational-molding industry. EPI works closely with its customer base, including original equipment manufacturers and other companies servicing the recreational vehicle, marine, and highway safety markets, to design and engineer plastic parts and products. EPI, recently ranked as the sixth-largest custom manufacturer of rotationally molded plastic products in the country, is also one of the fastest-growing rotational molders in the U.S. due to its strong internal growth and acquisitions. THE BUYER Promens hf (www.promens.com) is the world's largest rotational-molding company. It operates 22 factories in 10 countries in North America, Europe, and Asia; employs approximately 1,600 people; and manufactures a broad array of proprietary and custom products. Promens hf is a subsidiary of Atorka Group hf (www.atorka.net) an investment company with global interests in companies involved in geothermal drilling, pharmaceutical and health product wholesaling, logistical support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , and other industries. ABOUT GOLDSMITH AGIO HELMS Goldsmith Agio Helms (www.agio.com) provides sophisticated corporate finance advisory and investment banking services to middle-market businesses. The firm's services include mergers and acquisitions, private placements of debt and equity, distressed advisory and restructuring, and financial advisory and opinion services. The firm operates internationally from its offices in Minneapolis, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Chicago, Los Angeles, and London. If you would like more information about this transaction, contact Bill Jarrett, bjarrett@agio.com, at 612-339-0500. |
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