SALT LAKE CITY, December 28, 2021 / PRNewswire / – Banner Ventures today announced a new partnership with Premier Plastics, LLC and its founder Jim holbrook. Mr Holbrook became Prime Minister in 1989 in Salt lake city and today it has become the market leader in specialist plastic packaging in the Intermountain West, with particular emphasis on the medical devices and consumer packaging sectors.
Mr. Holbrook has retained a significant stake in Premier and will continue to serve as CEO during this next phase of aggressive expansion. “Over the past 32 years, we have made Premier Plastics a market leader without any outside capital. We have the team, the capacity and the reputation in the market to double our scale in the short term, but to do that I had to bring in equity partners, ”Mr. Holbrook said. “After considering all of our options, I felt Banner was the right partner to continue to build on our great legacy and success. “
In addition to Banner Ventures, veterans of the healthcare industry and manufacturing Ron Labrum and Tony orsini co-invested through Seventeen Capital, LLC with the aim of driving further growth in the medical device and supplies categories. “In addition to Ron’s experience with Baxter and Cardinal Health, together we have helped scale companies such as Fenwal and Flexan in the healthcare industry, and we strongly believe in Premier Plastics’ ability to grow. and take it to the next level, ”said Orsini, who will join the company’s board of directors.
“This transaction is a great example of our partnership capital model,” said Tanner Ainge, Managing Partner of Banner Ventures. “Premier Plastics has an incredible team, culture and operating history that we are now thrilled to be a part of. Over the next few years, we believe Premier is positioned to be the category leader in custom thermoforming solutions and we couldn’t be more excited about partnering with the Founder and CEO. Jim holbrook and the entire Premier Plastics team. “
“Our expansion plan is already underway,” said Tyler Prize, director of Banner Ventures. “Acquisitions, new geographies, additional investments in production capacity and targeted outreach to attract new customers in the medical and consumer categories are all part of the growth strategy,” continued Mr. Price, inviting potential prospects for Premier to contact him at: [email protected]
The financing of the transaction was provided by Key Bank and McGuire Wood advised Banner Ventures on the transaction. Premier Plastics and M. Holbrook were advised by Forbes M + A and VLP Law Group.
ABOUT BANNER VENTURES
Banner Ventures is a private equity and venture capital firm focused on providing partnership capital to family businesses and run by founders in United States. More information can be found at www.banner.ventures
ABOUT PREMIER PLASTICS
Founded in the late 1980s, Premier Plastics is a specialty plastic packaging manufacturer located in Salt Lake City, Utah. Through its integrated end-to-end service platform, it is able to design unique solutions for its major customers in a number of attractive end markets including medical, specialty food, retail / consumer goods and nutraceuticals. More information on www.premierplastics.net
SOURCE Ventures Banner