Capstone Ventures, an investment affiliate of Capstone Partners LLC, announced today that it has co-invested in partnership with Wincove Capital to acquire GI Plastek Wolfeboro LLC. The minority investment signifies Capstone’s move towards formalized merchant banking capabilities to complement the firm’s core M&A and private placement business. Capstone Partners also served as the exclusive investment banking advisor to the shareholders of GI Plastek during the transaction.
“We have been actively seeking co-investment opportunities to support our client’s transactions. Merchant banking capabilities represent an exciting new area for the firm and we believe this move will send a very strong message to our clients and the market, prospective investors and acquirers alike,” commented John Ferrara, Capstone’s President and Managing Partner. “We hope to see ongoing opportunities to partner with premier private equity firms and will most likely seek to establish our own dedicated co-investment fund in the near future,” added Ferrara.
GI Plastek Wolfeboro LLC, headquartered in Wolfeboro, New Hampshire, is an industry leader in standard high-pressure, structural foam, gas-assist and gas counter pressure plastic injection molding methods. GI Plastek specializes in large, complex plastic parts and often deals with specialized resins that many companies are unable to mold. The Company serves a diverse range of end markets, including the military, educational, medical, industrial, construction and leisure market segments.
Wincove Capital is a New York-based lower middle-market private equity firm that was launched in 2008. Wincove partners with profitable companies to help accelerate their growth and ultimately unlock value. The acquisition of GI Plastek represents Wincove’s second transaction.