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Wind Point Partners Acquires Argotec

Post Time:Jun 04,2013Classify:Industry NewsView:46

Argotec, Inc., a producer of high performance thermoplastic polyurethane (TPU) film and sheet for security glass applications, has been acquired by Wind Point Partners, a Chicago-based private equity investment firm. Wind Point acquired Argotec in partnership with Guy Broadbent, who will join the company as president and CEO, according to a release.

In the release, Bruce Wilby, CEO and chairman of the board, explained the sale of Argotec as “a long-planned exit strategy for our co-chairmen, Dick Barnes and Steve Wolkenbreit, who founded Argotec in 1988. Simply put, they wanted to retire.”

“This has always been our succession plan," said Barnes and Wolkenbreit, in the release. "We are elated to have found a partner like Wind Point who will continue to fund the ongoing growth of the company as we have. Argotec has more than doubled in size over the last five years and is anticipated to redouble in the next three to five years with the capital available through Wind Point Partners."

Argotec's Wilby and Nick Filler, COO and president, will both continue in senior leadership roles with the company.

Broadbent has 27 years experience in the plastics, specialty chemicals and technical / manufacturing industries, most recently serving as CEO of Xcellerex and president of the Laboratory Products Group at Thermo Fisher Scientific.

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Source: http://www.glassmagazine.com/news-item/fabrication/wind-point-partners-acquires-argotec-1311238Author:

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