Owner Resource Group acquires Richardson Molding
AUSTIN, January 10, 2016 – (BUSINESS WIRE) – Owner Resource Group, LLC (“ORG”) announced today that it has acquired Richardson Molding, Inc. (the “Company”).
Headquartered in Columbus, IN, Richardson Molding is a leading manufacturer of proprietary and custom injection molded products primarily serving the industrial lead-acid battery market. Richardson Molding provides battery containers and covers to an attractive base of national original equipment manufacturers (“OEMs”) producing batteries in a variety of end markets including (a) motive power, (b) stationary/reserve power, and (c) starting, lighting and ignition (SLI) power. Richardson Molding also produces injection molded products for the automotive industry and consumer markets. The Company maintains a market leading position, using proprietary molds and manufacturing techniques to support and grow upon its revered, blue-chip customer base. Roger Winslow, Owner and CEO of Richardson Molding, has retired from the business and will be succeeded by Steve Dyer, a 20-year plastics and battery industry veteran.
The Company’s manufacturing platform consists of two strategically located facilities in Columbus, IN and Philadelphia, MS. The location of these facilities allows Richardson Molding to remain in close proximity to its customer base, resulting in strong customer service and many operational efficiencies.
ORG Managing Director Jon Gormin commented: “Over its history, Richardson Molding has built a leading position and reputation within the industry, serving a strong base of premier OEMs and utilizing proprietary molds and manufacturing techniques. We are excited to partner with Richardson Molding and strongly believe that the Company is well positioned for growth within its existing and new end markets.”
About the investment by ORG, Roger Winslow said, “ORG is an ideal partner for Richardson Molding as the Company enters the next chapter of growth. I look forward to Richardson Molding’s future success under Steve’s leadership with the support of ORG’s operational and capital resources. Our customers can rest assured that the team and service they have come to rely on over the years will remain in place and that Richardson Molding will work tirelessly to increase its role as a valued partner.”
The transaction closed on January 3, 2017. Financial terms were not disclosed. Cadence Bank provided senior financing for the recapitalization.
Owner Resource Group, LLC
Owner Resource Group is an Austin, Texas based private investment firm founded to bring superior outcomes to privately held businesses. ORG makes investments that enable business owners and management teams to pursue their objectives and accelerate the growth of their companies in a disciplined manner.
ORG can be most helpful to businesses with annual revenue greater than $15 million and the following aspirations:
- Business owners hoping to achieve a full or partial exit
- Businesses looking to expand their capabilities, offerings or geographic reach (through organic growth or by acquisition)
- Management teams that would like to establish or increase their ownership in a business
For additional information, please visit www.orgroup.com