Harris Williams & Co. Advises Plano Molding Co. in its Sale to Ontario Teacher’s Pension Plan
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Plano Molding Company (Plano), the premier supplier of outdoor sports storage systems, to Ontario Teachers’ Pension Plan (Teachers’). Plano was a portfolio company of Tinicum Capital Partners (Tinicum). Harris Williams & Co. acted as the exclusive financial advisor to Plano. The transaction closed on December 21, 2012, and was led by Cheairs Porter from the firm’s Richmond office and Ryan Budlong and Hector Fernandez from the firm’s Minneapolis office.
“The iconic Plano brand has been a leading name in the outdoors industry for generations. The company has consistently been successful expanding into new and adjacent product categories as a result of consumer loyalty to and trust in the Plano brand,” said Cheairs Porter, a managing director at Harris Williams & Co. “We are pleased to have found a partner for the company that shares management’s vision for continued growth and look forward to tracking the future success of Plano.”
“Plano has developed its leadership position through a legacy of innovation and commitment to providing the outdoor consumer with high quality products. As the fifth enthusiast consumer transaction completed by our team in 2012 and sixteenth across our consumer team, the Plano transaction demonstrates the continued appetite that investors have for premium, high quality enthusiast consumer assets,” added Ryan Budlong, a vice president at Harris Williams & Co.
Founded in 1932, Plano is a premier provider of outdoor storage solutions with leading market shares in fishing and fall sports. As the pioneer of the world’s first plastic tackle box, Plano’s proprietary brands now include Plano, Frabill, Tenzing, Caboodles and Creative Options. Plano also enjoys a leading market position in the tool & craft and shelving storage solutions markets.
Tinicum Capital Partners is a New York based private equity firm specializing in acquisitions, turnarounds and restructuring of companies in a variety of industries. The firm manages approximately $1.3 billion in committed capital and was founded in 1998.
Teachers’ is the largest single-profession pension plan in Canada, with $117.1 billion in net assets. It invests the fund’s assets and administers the pensions of 300,000 active and retired teachers in Ontario. Teachers’ Private Capital (TPC) is the plan’s private equity division and manages a global portfolio valued at approximately $12 billion.