Chicago, IL - November 14, 2016 - BDO Capital Advisors, LLC (BDO Capital) is pleased to announce the sale of Brookdale Plastics, LLC (Brookdale or the Company) to Placon Corporation (Placon). As the exclusive financial advisor to Brookdale, BDO Capital helped prepare a confidential offering memorandum, contacted an approved list of potential buyers, and assisted the shareholders in structuring and negotiating the transaction, demonstrating BDO Capital’s expertise in the rapidly consolidating packaging sector.
Brookdale Plastics, based in Plymouth, MN, was founded in 1963 and designs and manufactures high quality custom medical and retail packaging in the plastic thermoforming industry. Brookdale’s 74,000-square-foot facility houses 3-D printers, an in-house tooling department, and a Class 100,000 clean room. Placon, best known for pioneering and patenting clamshell packaging in the 1960s, is a leading North American designer and manufacturer of custom and stock thin gauge thermoformed plastic clamshells, trays, and blisters with an environmentally-responsible line of recycled PET rollstock materials. “The acquisition will advance Placon’s leadership position in both the medical and retail industries,” said Dan Mohs, Placon chairman and CEO. “Brookdale has an exceptional sales model that allows them to service the customer with great speed, innovation, and quality. By combining Brookdale’s cost-effective tooling solutions with Placon’s world-class matched metal, high-precision tooling, we will become the first supplier of choice for custom packaging solutions in the industry.”
The BDO Capital deal team utilized a two-step auction in the Brookdale sale process, approaching financial buyers (private equity firms and family offices looking to increase their portfolio holdings) and strategic buyers (public and larger private companies typically operating in the same industry or a related industry vertical). “We leveraged our extensive experience and contacts within the plastics, packaging, and contract manufacturing sectors to drive interest in the market,” comments BDO Capital President Bob Snape. “The process yielded significant interest from potential buyers creating a robust competitive dynamic and significant negotiating leverage which ultimately maximized shareholder value for the client.”
