Current Capital Advises Sole Source Capital on its Acquisition of Dallas Plastics
New York, New York, October 7, 2020 – Current Capital is pleased to announce that Sole Source Capital, an industrial-focused private equity firm providing capital to North American lower-middle market companies, has acquired Dallas Plastics, a leading manufacturer of blown polyethylene film with printing, embossing, and other value-added capabilities for the medical, food, and industrial end markets. Terms of the transaction were not disclosed.
Founded in 1989, Dallas Plastics is a leading independent producer of high-performance specialty films used in flexible packaging and other end-use markets. Dallas Plastics has established itself as a high quality, service-oriented manufacturer that utilizes leading-edge technology to best serve its customers. The films are made with the finest quality materials and are carefully processed in a controlled manner so customers consistently experience a superior product that is ideal for medical, food, and consumer applications. The Company has three manufacturing facilities in the United States, making it a strong choice for servicing any customer in North America.
As part of the transaction, Kevin Pierce, Dallas Plastics’ Chief Operating Officer, will assume the role of Chief Executive Officer. Founder Dennis Pierce will remain with the Company as a Senior Advisor.
By leveraging Sole Source Capital’s experience investing in leading industrial companies and its operating and M&A capabilities, this partnership will propel Dallas Plastics’ continued expansion across North America. The Firm will leverage Dallas Plastics’ strong reputation and network of relationships to source investment opportunities and execute its M&A strategy.
“Our team identified the flexible packaging space as an area of focus due to its attractive end markets, primarily medical and food. Dallas Plastics is the right cultural fit for our firm with a strong track record of integrity and a customer-first mentality. This is our 12th transaction, and another example of being the preferred partner for private companies. We will immediately implement management’s vision of investing in technology, adding capacity, and making acquisitions,” said David A. Fredston, Managing Partner of Sole Source Capital.
Current Capital Partners advised Sole Source Capital on the acquisition, providing senior attention, deep industry knowledge, operating executives from the sector, and execution services.
“Current Capital’s team continues to be a valued partner of ours. They know our strategy and have been very helpful as M&A advisors in generating ideas and providing high quality advice. This is the second deal they’ve helped us execute in this difficult Covid-19 environment.” added David Fredston.
About Sole Source Capital
Founded in 2016 by David A. Fredston, Sole Source Capital is an operationally focused lower-middle market private equity firm that targets investments in high-growth industrial subsectors including precision manufacturing, diversified distribution, and industrial services. Sole Source seeks to partner with strong management teams and founder-owned businesses that will benefit from the team’s operating and M&A capabilities. The Firm is headquartered in Santa Monica, California. For more information on SSC, please visit www.solesourcecapital.com.
About Dallas Plastics
Headquartered in Mesquite, Texas and with locations in Longview, Texas and Wentzville, Missouri, Dallas Plastics is a leading manufacturer of blown polyethylene film with printing, embossing and other value-added capabilities for the medical, food and industrial end markets. As experts in blown film manufacturing, the Company works to provide quality, integrity, value and innovation to their customers. For more information, please visit www.dallasplastics.com/.
About Current Capital Partners
Current Capital Partners LLC is an independent advisory and merchant banking firm focused primarily on the industrial and services sectors. We provide mergers and acquisitions and restructuring advisory services, corporate management services, and private equity investing. The mergers and acquisitions advisory effort offers high quality financial advisory services – including ideas, buy-side and sell-side execution, strategic and capital structure reviews, restructuring advisory and related services – for corporate and investment firm clients seeking an independent perspective and senior attention. In our management services effort, we manage investments, provide restructuring advice, sit on Boards of Directors and provide related consulting services for other investors and financial institutions; and offer advice and expert witness services in complex corporate litigation. Our private equity investing business helps create value, primarily in lower middle market and smaller companies, with an integrated operating, finance and investment approach. Our Advisory Board and Executive Network are important advantages for our clients. Learn more at www.currentcap.com.
Kevin J. Smith
Telephone: +1 212 223 0637