Bain Capital, Consolidated Container Company Acquire Leading Plastic Recyclers
ATLANTA, June 17, 2014-- Bain Capital, through its affiliated investment in the plastic packaging sector, Consolidated Container Company (“CCC”), purchased Envision Plastics and Ecoplast Corporation, leading plastic recyclers, from their founders Massoud Rad and Parham Yedidsion. Terms of the transaction were not immediately disclosed.
Seth Meisel, a managing director of Bain Capital, said, “We believe that recycling and sustainability are megatrends in the economy. We are excited to support the continued growth of Envision and Ecoplast, in building on Massoud and Parham’s legacy. We believe that recycling is both a good financial investment and an important industry for our society.”
Envision and Ecoplast will operate as a stand-alone business led by Scott Booth and the rest of the existing management team. Mr. Booth will report to Sean Fallmann, CCC’s CEO. “We are very excited to add the unique capabilities and products as well as the talented people of Envision and Ecoplast to CCC,” said Mr. Fallmann.
Mr. Booth said, “This is a tremendous opportunity for Envision and Ecoplast. Parham and Massoud have been fantastic owners of the business, and we wish them the very best in their future endeavors. Speaking for the employees of Envision and Ecoplast, we are excited to partner with our new owners, who also share our vision of growth, and are prepared to continue to invest behind the full potential of our proprietary food grade recycled HDPE (EcoPrimeTM) and our unique color matched recycled HDPE (PRIMSATM) technologies as we continue to grow our business.”
Parham Yedidsion and Massoud Rad said, “Envision Plastics and Ecoplast Corporation are leading players in the recycled plastics sector and have been built on a solid foundation. We are thankful to our employees and management team for their continual efforts and have no doubt that the Bain Capital group will only expand upon the capabilities of these companies. Lastly, we want to acknowledge and thank our transaction partners, FocalPoint Partners, LLC (Investment Bank), and Buchalter Nemer (Legal) for their professionalism and guidance.”
About Bain Capital
Founded in 1984, Bain Capital one of the world's foremost privately-held alternative investment firms, with more than $70 billion of assets under management. With deep experience investing in and building businesses around the world, the firm has made private equity, growth, and venture capital investments in more than 450 companies, across a variety of industries including consumer/retail, financial services and institutions, healthcare, industrials, and technology, media and telecommunications. Bain Capital has offices in Boston, New York, Chicago, Palo Alto, London, Munich, Tokyo, Shanghai, Hong Kong, Mumbai and Sydney. For more information please visit http://www.baincapitalprivateequity.com
About Envision Plastics
Starting with a concept and state of the art HDPE recycling systems, Envision Plastics was formed in 2001 after obtaining proprietary rights and patented technologies from Union Carbide. At the same time, two newly acquired plastics recycling facilities, in Reidsville, NC, and in Chino, California, provided the manufacturing platforms needed for recycled HDPE resin production. The two facility locations also allowed for ease in distribution to customers from either the east or west coast. Envision Plastics is a recognized industry leader in post-consumer recycled polyolefin resins (HDPE). An inert resin, HDPE does not contain BPA, phthalates, heavy metals or allergens. Our company has built our industry position through superior product quality and value-added product offerings that distinguish what we offer customers from the industry norm for recycled plastics companies. As a result, our portfolio of clients includes premier users of PCR and leaders in the next generation of recycling processes. If you have questions about the plastics recycling process, the production of HDPE resins or Envision Plastics’ products and services, call customer service at (336) 342-4749 ext. 233. We look forward to speaking with you.
About Ecoplast Corporation
Established in 1963, Ecoplast Corporation is a leading supplier of recycled and custom compounded resins in the United States. Fifty years of experience in the thermoplastics industry has given us unparalleled expertise and a well-respected reputation for excellence in quality, customer service and integrity.
As California’s oldest thermoplastics recycler and custom compounder with a sizeable investment in a new facility and state of the art equipment, we are well prepared to meet the challenges of plastics molders, suppliers and companies seeking ways to utilize sustainable raw materials in product manufacturing or find a corporate recycling solution. Whether you are a molder, an original product manufacturer or a company exploring ways to utilize sustainable raw materials in your product manufacturing or to establish a corporate recycling program, call our office at (909) 590-5730. Find out how Ecoplast products and services can help you exceed your business goals.
About Consolidated Container
CCC is a leading developer and manufacturer of rigid plastic packaging solutions in the U.S. CCC specializes in customized mid- and short-run packaging solutions, serving a diverse customer base in the dairy, household chemicals, food, industrial/specialty chemicals, water, and beverage/juice markets. With 56 manufacturing facilities and approximately 2,300 employees, CCC has an integrated, nationwide network of manufacturing and service locations to deliver reliable and cost-effective packaging solutions to meet the needs of a wide range of customers and markets. CCC provides standard and custom packaging solutions to its customers. From its state-of the art Panella Engineering and Development Center to its experienced manufacturing teams across its network, CCC delivers high performance, cost-effective design solutions to meet even the most challenging container applications. For more information, please visit www.cccllc.com.
Consolidated Container Company
Richard Sehring, 678-742-4619
Chief Financial Officer
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