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NewswireTODAY - /newswire/ -
Newnan, GA, United States, 2014/02/20 - PNC Riverarch leads recapitalization of Custom Molded Products to help accelerate growth and position CMP as a global supplier for the pool, spa and bath industries - C-M-P.com.
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Founded in 1993, Custom Molded Products, LLC (CMP) is a leading manufacturer and distributor of injection molded plastic components used in spas, pools, and whirlpool baths. On November 27, 2013 CMP entered into a partnership with PNC Riverarch Capital, with a co-investment from Florida Capital Partners. The transaction also included a significant re-investment by the company’s co-founders, William Drury and Charles Li, who will continue to lead the business going forward.
Addressing the strong growth of the company, CMP President Dr. William Drury stated,"To date, CMP has been very successful by focusing on our customers. We are excited about the opportunities that this transaction represents. The entire management team met with the PNC and FCP investors ahead of time and developed a strong set of the goals for CMP moving forward. Everyone here is viewing this as a positive situation on all sides". CMP Vice President Dr. Li agrees: "The investment group really showed that they understand CMP and expressed their desire to build on the strong foundation already in place. I think that the managers especially appreciated that PNC and FCP do not want to change the company, but rather help us continue to grow and improve."
PNC Riverarch Capital is a middle-market private equity firm which invests in privately held companies headquartered in North America. “Our investment in CMP fits well within our strategy of identifying well-positioned companies in attractive and growing end markets,” said Michael Hand, managing director of PNC Riverarch.“ We were particularly attracted to the company’s strong customer value proposition and management team, and we are excited to support their continued expansion into new products and geographies, both organically and through strategic acquisitions.”
About Custom Molded Products
CMP (c-m-p.com) is committed to quality products, exceptional customer service, and reliable supply. As an innovative, leading industry supplier, CMP serves over 350 active customers and offers over 3,900 products, including jets, valves, filters, and various other plastic components. With a large logistics network and manufacturing facilities both domestic and off-shore, CMP provides a variety of supply solutions.. Utilizing an experienced, diverse engineering and support team, CMP offers design and product support for the global pool, spa and bath industries. By focusing on personal attention and outstanding customer support, CMP delivers world class products and service for its customers.
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