$7M
Investment in Onboarding a Significant New Customer
Major Acquisition
Created Largest Company in Industry Battery Jar Sector
7
Executives and Manager With Ownership Opportunity
Founder Wanted Strong Stewards For The Business Moving Forward
Background
Richardson Molding is a leading manufacturer of proprietary and custom injection molded products primarily serving the industrial lead acid battery market. Roger Winslow, a pioneer in the industrial led acid battery industry, had decided to sell the business. He wanted to make sure that he sold to a group that he trusted to be strong stewards to the business going forward. Roger also felt strongly that the Company needed to be operated by an experienced industry executive.
Solution
In turn, ORG partnered with a recognized industry executive to acquire the Company in 2017 and execute a growth strategy. ORG structured the transaction to provide significant ownership to the new management team.
Key Initiatives
Provided significant ownership to key management
Assisted the company in developing new financing relationships
Evaluated potential strategic relationships
Invested in the company’s sales force to expand new customer opportunities
Merged with a significant competitor with complementary product offerings
ORG Involvement
After the transaction, the Company invested in certain manufacturing lines to increase its efficiency as well as targeting new customers to drive additional growth. In 2019, the Company merged with Tulip Molded Plastics Corporation to create Tulip Richardson Manufacturing (TRM). The combination created the largest vertically integrated company in the industrial battery jar industry.
