Wind Point Partners Acquires Argotec
Chicago-based private equity investment firm Wind Point Partners has acquired Greenfield,
Mass.-based Argotec Inc. — a producer of custom-engineered, high-performance thermoplastic
polyurethane (TPU) films and sheets — for an undisclosed price.
Wind Point Partners made the acquisition in partnership with Guy Broadbent, who has 27 years of experience in the plastics, specialty chemicals and technical/manufacturing industries and will serve as Argotec's president and CEO.
According to Argotec CEO and Chairman of the Board Bruce Wilby, the sale of the company is a long-planned exit strategy for Co-Chairmen Dick Barnes and Steve Wolkenbreit, who founded the company in 1988 and plan to retire after the sale.
"Argotec's customers can feel secure in the knowledge that the company remains in the hands of the same senior management who provided the day-to-day leadership that brought us to where we are today," Broadbent said.
"The new ownership will ensure capital is available for continued plant expansion, organizational development, further improvements in product quality, and the ongoing innovation that is demanded by the industries we serve," Wilby said.
June 11, 2013