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Plaskolite

Plaskolite logo

Acrylic sheet manufacturer

Plaskolite is a leading global manufacturer of engineering thermoplastics, with a focus on customized, niche products. Diversified across products, customers, end-markets and distribution channels, Plaskolite is a leader in extruded acrylic and polycarbonate sheet in North America. Its manufactured sheeting is used for applications such as storm windows, indoor and outdoor signage, point-of-purchase displays and industrial lighting.

Investment Summary

We leveraged our success in acquiring family-owned businesses to gain the confidence of the founders and management, acquiring a majority interest in Plaskolite in 2015. The family, which had not accepted outside equity since founding the company in 1950, retained a substantial ownership stake in the business.

“
Plaskolite was a family-owned business, so bringing in a financial partner was like expanding our family; the cultural connection was key. With Charlesbank, the strong bonds we formed out of the gate only grew – helping us to focus on the good stuff: how to grow faster, outflank the competition, strengthen our market position. Charlesbank brought capital, operational expertise and the right level of support from start to finish.”

Former Plaskolite President & CEO Mitchell Grindley

Strategic Human Resources

During our hold period, Charlesbank expanded the leadership team, advised on succession planning, and helped develop a deep bench of mid-level talent to support growth across key functional areas.

Organic Growth

We aided the company in achieving focused organic growth in nascent product lines and adjacent product categories.

Scaling Operations

Charlesbank supported the business as it doubled its number of manufacturing lines, expanded the employee base and invested in a new state-of-the-art corporate headquarters.

M&A

Working with management, we implemented a programmatic M&A process with streamlined sourcing and execution. Out of these efforts, Plaskolite was able to source and negotiate four strategic and highly accretive acquisitions — two corporate carve-outs and two acquisitions from private sellers.

Exit

In 2018, we exited the investment, selling our ownership interest to a financial buyer.

Case Studies are for informational purposes only and intended for management teams and owners considering partnering with the Firm. They should not be relied upon for investment decision-making. Information regarding the Firm’s investment products is not provided on the website and is only offered privately. Case Studies are not to be considered a complete list of all investments made or currently held by the Firm. They may contain opinions of former and present portfolio company executives; such executives are not compensated by the Firm directly for such statements, but all such persons had or continue to have economic relationships with the Firm, including potential incentive awards for performance. It should not be assumed that the portfolio companies discussed in these case studies were profitable or that future portfolio companies or experiences will be comparable.