Teel Plastics Inc. has completed a recapitalization transaction with MPE Partners.

Headquartered in Baraboo, Wisconsin, Teel is a technology-driven manufacturer of highly engineered and complex plastic components specializing in plastic extrusion and injection molding. A winner of Wisconsin Manufacturer of the Year, Teel serves the agriscience, laboratory sampling bags, medical, consumer cosmetics, water treatment, flex-film cores and industrial piping markets. 

The transaction proceeds are expected to be utilized to accelerate the growth of the company.

"The Smith family is proud of the success we've had building Teel into a world class plastics processor over the past two decades, and we have a future of exciting growth planned,” Teel Plastics Owner and Chairman Jay Smith said in a statement. “We are confident that, together with MPE, we will continue to innovate, deliver quality products to our customers, and execute on our growth plan.  We are excited to utilize the capabilities, resources, and capital that MPE brings to support this next chapter of growth."

The company was founded in 1951 and has developed a reputation for superior quality, materials expertise, collaborative product development, and exceptional customer service. Teel has been owned by the Smith family for over 20 years and was seeking a partner to help capitalize on the significant growth opportunities that are currently available to the company.

Based in Cleveland and Boston, MPE Partners is a private equity firm focused on investments in lower-middle market companies primarily in the high-value manufacturing and commercial & industrial services industries. The firm works closely with their portfolio companies, partnering with industry-leading management teams and providing them with strategic, operational and financial support to create long-term shareholder value through superior operating and financial performance.

PMCF's Plastics & Packaging Group served as exclusive financial adviser/investment banker to Teel Plastics in the recapitalization. Foley & Lardner served as the legal advisor to Teel, and Baker Tilly provided tax structuring and accounting due diligence support.