BOW - PlasTech Machining Fabrication, Inc. has been acquired by DelCam Holdings and will become part of DelCam Manufacturing, a private group that includes a variety of New England-based manufacturing and fabrication companies.
Ken Schaefer and John Howe of Business Transition Services, an M&A firm serving the lower mid-market based in Pembroke, New Hampshire and Andover, Massachusetts, coordinated the transaction and represented the sellers, Lou and Claire Ferriero.
The transaction closed on November 6. Terms are private.
The company was started in 1997 by the Ferrieros, and it has steadily expanded operations through the years.
DelCam has acquired the manufacturing site in Bow at 25 Dunklee Road and is committed to keeping the company in its current location.
PlasTech is known for providing world-class plastics machining and fabrication services to the medical, high tech, and other industries. The company applies the latest techniques and equipment. Its commitment to continuous improvement and high-quality standards has earned it loyalty and repeat business.
“Our intention is to continue this relentless focus and enhance it with further investment,” commented Stephen Trotta on behalf of DelCam Manufacturing.
“We really appreciate the approach the buyers are taking to preserve our legacy, keep operations in New Hampshire, preserve the jobs, and with plans to expand,” said Lou Ferriero.
He also offered praise for assistance provided by BTS in helping him and Claire prepare for the transition and sale. “It took about a year, but the BTS team – Ken Schaefer and John Howe - were with us at every step of the way, including the COVID period which prevented plant visits by prospective buyers,” he said.
The sellers were represented by the Concord law firm Orr & Reno, including attorneys Brad Melson and Peter Burger. The buyers were represented by the Laconia law firm Normandin, Cheney & O’Neil, including attorneys Kaitlin O’Neil and Robert Dietz.
"The entire process went smoothly and professionally. The BTS team kept me fully informed at every step. They worked hard and were effective in bringing the deal home."
"Skip and I continue to be grateful for all you have done to make the sale of Pure Flow come to fruition."
"BTS’s level of expertise in the process and close attention to detail enabled us to successfully navigate the deal."
"These types of transactions are often long and complicated and I doubt it could have been successfully completed without your close ongoing involvement."
"The outside objective point of view that you have brought us has been invaluable as we prepare for the rapid growth."
"John then found the right buyer and coordinated a seamless transition—he doesn’t miss a single detail."
"John immediately identified our strengths and experiences and discussed a business that ultimately was more in line with our goals."
"The BTS team came in, evaluated everything in a professional and thankfully non-threatening manner."
Manufacturer Sold and New Owner Expands It
BTS served as advisor in the sale of PlasTech Machining Fabrication, Inc. to DelCam Holdings in 2020...the company has grown substantially, doubling employment and adding capacity to boost future prod
How M&A Will Respond to Next Recession
The takeaway for business owners: Get back to basics. Don’t worry about hyper growth. De-risk your company as much as possible.
Perception vs Reality with Small Businesses
Sometimes the economic picture on the news seems inconsistent with what is happening for many business owners. Nearly every owner we speak to is out straight.
NH-Based Techinical Manufacturing Company Sold
Hampshire Controls has a bright future with new ownership. The company was recently sold by Diane Rush, owner and president, to Pillar Imaging and its leader Dr. Michael Pilon.
Be Ready When You Are Ready
When a business owner says it’s time to sell, I ask, “How fast do you want to be out?” The answer I hear most is, “Yesterday.” But sellers underestimate how long the process takes.
Looking at a Sale Through the Right Lens
Sometimes our vision about the future is blurry because we aren’t considering the whole picture but only parts of it.
5 Deal Points from the Trenches
Today I work with clients of Business Transition Strategies who are implementing Growth Through Acquisition strategies. Here are a few observations from working on a wide variety of projects.
Tax Changes Could Hurt Net Proceeds
Changes proposed to the capital gains tax suggest they may need to get 30% more in a transaction in the future just to net the same value they would get today.
Good Ideas From Shark Tank Deal
One of my colleagues in Cornerstone Alliance was front and center in a recent Shark Tank exercise. A business that had been sold was put in front of four potential buyer groups.
Buyer Trends in Lower Mid-Market
Other businesses are a significant market for companies being sold within the lower mid-market.
Precision Machining Company
Initially, liquidation was a serious consideration. It would offer a quick exit but would hurt loyal employees and disrupt the customers who had come to rely on its quality production.
Green Product Company
Our client owners could dig in for the long haul…However, this would take five years or more. Owners simply lacked the horsepower to do it.
Water Purification Company and Young Buyers
Owners decided they wanted to retire. They also wanted to be fair to the staff who had been loyal to them. Could the company be sold, the staff retained and the facility remain in use?
Magnetics Company with High Profile Customers
(T)he manufacturer would need to focus on growing EBITDA to capture interest from major strategic buyers and achieve a higher multiple of earnings.