BRIDGMAN — Kruger Plastic Products has been acquired by a Chicago-based private equity firm.
After the deal with HC Private Investments, Kruger Plastic Products President Pat Brandstatter and VP of Engineering Dirk Kruger retained “significant stakes” in the custom injection molding company that serves the consumer, industrial, and recreational vehicle sectors, according to a statement.
The more than 40-year-old company employs about 100 people in Southwest Michigan.
With the investment from HCPI, which typically invests between $5 million and $30 million into lower middle market manufacturing operations, Kruger Plastic Products will add manufacturing capacity and personnel, as well as move into new markets, including medical products.
“We believe that HCPI’s experience and capabilities make them the ideal partner for Kruger to take advantage of the significant opportunities ahead while maintaining our core values of quality and service,” Brandstatter stated.
Terms of the deal were not disclosed.
Grand Rapids-based Varnum LLP served as legal counsel to Kruger, which was advised on the transaction by Grand Rapids-based BlueWater Partners LLC, a Grand Rapids-based investment banking and consulting firm.