Nautic Partners officially announces takeover of Aurora Plastics

By Hope Hill |

Renowned Rhode Island based private equity firm Nautic Partners, LLC has made it to the headlines for its announcement regarding the acquisition of Aurora Plastics, in partnership with management.

According to reliable sources, McDermott Will & Emery LLP represented Nautic in the acquisition deal and Carlyle Global Credit and Antares Capital LP led the financing for the same. On the other hand, Reed Smith LLP and William Blair & Company LLC were the advisors for Aurora.

Chris Pierce, one of the Managing Directors at Nautic, has been quoted to state that Aurora has a well-experienced management team that has helped to fast-track the company’s growth trajectory since the last many years. Nautic is thrilled to join hands with the firm to lend support to their next growth and innovation phase, he says, adding that it will aim for more acquisitions in Aurora’s fragmented market.

Elaborating further, Chris Pierce also said that Nautic is delighted about adding yet another investment to its specialty chemicals and materials portfolio.

Darrell Hughes, CEO, Aurora, has reportedly stated that Aurora’s mission remains the same, the company always intends that its customers’ have the first choice in polymer compounds. With Nautic as Aurora’s new partner, the company believes that it will majorly benefit from the equity firm’s record of creating value with similar teams and it looks forward to more innovation and providing excellent service to all its customers, Hughes added.

According to Sean Wieland, another one Nautic’s Managing Directors, Aurora is a key market leader and offers strong customer service, a strong value proposition that finds its roots in engineering and innovation, rapid turnaround times, and high focus on customized formulations with adaptable lot sizes, to its clientele. Nautic believes that the firm has a commendable runway for delivering value to its customers in current and adjacent markets, and the company is thrilled to work with Aurora’s management on those efforts, he added further.

For the uninitiated, Aurora Plastics, LLC is a market leader in PVC (polyvinyl chloride) compounds and boasts of more than 20 years of experience in manufacturing high-quality TPE, customized alloy compounds, and PVC for customers spanning North America.



Source Credits:

https://www.businesswire.com/news/home/20210811005091/en/Nautic-Partners-Announces-Acquisition-of-Aurora-Plastics-in-Partnership-With-Management

Comments

Post a Comment

Add your comment here

Popular posts

UK PM and Bill Gates announce new green partnership

By Hope Hill |
U.S. business magnate Bill Gates and UK Prime Minister Boris Johnson have made it to the headlines for announcing a new partnership between the government and the Breakthrough Energy Catalyst. The deal entails a substantial amount to be invested in next-gen clean energy technologies. For the unversed, Catalyst is a vital program within the Breakthrough Energy network and brings together a variety of parties – businesspersons, philanthropists, and governments, to invest in climate technologies. Catalyst focuses on four major green technology areas including long term energy storage, direct air capture, green hydrogen, and sustainable aviation fuels. As per sources, the UK government has already pledged to commit GBP 200 million to develop UK projects in these four areas as a part of the GBP 1 billion Net Zero Innovation Portfolio. Businesses that have had tie-ups with the Breakthrough Energy Catalyst will match fund GBP 200 million of that investment to help market these technologies...
Read more

Mars embarks on new initiative to reduce GHG emissions across value chain

By Patrick Miller |
Mars, Incorporated, has declared that it has a new mission in mind. The company has strengthened its commitment to accomplish a state of net zero GHG emissions spanning its overall value chain, by the year 2050. Mars’ mission aligns with the prestigious Paris Agreement, one of the most ambitious climate change action plans, that aims to limit global temperature rises up until 1.5 °C. Grant F. Reid, Chief Executive Officer, Mars, has some real-time insights into the present climate change situation. He has been quoted to state that faster initiatives must be taken at this point of time, since climate change is already well on its way to affecting people and to eliminate this threat, net zero targets must be implemented seamlessly, across whole distribution networks and the results must be depicted soon enough, instead of having to waiting for ages. Reid acknowledges the fact that a lot of loopholes exist in some net zero commitments that reduce their credibility and at large, the cli...
Read more

Munters signs turnkey project to build lithium battery laboratory

By Patrick Miller |
Energy and climate solutions leader Munters has reportedly signed a turnkey project agreement entailing the construction of a laboratory in Scandinavia. As per sources, the company plans to design and build a lithium battery laboratory in the Scandinavian region, strengthening its position as a major supplier to lithium battery producers. Munters’ step ahead may be an action initiated in favor of climate change that is increasing the demand for lithium batteries the world over. Munters’ ability to build the unit and its competence to ensure appropriate execution of the construction was a major requirement by the client. As per terms and conditions, the company will deliver the project over the forthcoming six months. The project valuation adds up to around MSEK 83.5. Klas Forsström, President and Chief Executive Officer, Munters, has been quoted to state that with increasing focus being given on minimizing carbon emissions, there’s a strong megatrend of sustainability in the market...
Read more