New partnership provides capital & resources to further accelerate growth
STREETSBORO, OH – August 11, 2021 – Aurora Plastics, LLC, a leader in polyvinyl chloride (PVC) compounds, announced today that it has been acquired by Nautic Partners, in partnership with management. The move sets the stage for Aurora Plastics’ next phase of innovation and growth. Chief Executive Officer Darrell Hughes and the senior executive team will continue to lead the company.
Prior to the ownership change, Aurora Plastics was majority owned by Chicago-based Wind Point Partners (WPP) and the Toronto-based Ontario Teachers’ Pension Plan (OTPP). WPP and OTPP purchased Aurora Plastics in August 2016, partnering with management to invest additional capital in Aurora and significantly accelerate the Company’s growth trajectory.
“Together with our investors, employees, and suppliers, we have created a strong polymer compounding platform, supporting the growth of our key customers, accelerating the release of new strategic products, enhancing our long-term customer partnerships, and increasing our overall levels of quality, service, and profitability. In doing so, we have delivered an excellent return for our investors,” Hughes explains. “We thank our previous owners –WPP in Chicago and OTPP in Canada for being tremendous sponsors over the last five years, and we are happy to have fulfilled their vision.”
The senior management team at Aurora Plastics will remain:
Darrell Hughes, President & CEO
Mike Klein, Chief Financial Officer
Matthew Kuwatch, Senior Vice President – Marketing, Innovation, & Business Development
Keith Dunlap, Senior Vice President – Sales
Jeff Conard, Senior Vice President – Operations
Scott Hornsby, Vice President – Human Resources
Jimmy Flynn, Vice President – Technology
Bill Trask, Corporate Director of Strategic Sourcing
Aurora has over 20 years of experience producing high-quality PVC, TPE, and customized alloy compounds for customers across North America. By transitioning ownership to another growth-oriented investor like Nautic, Aurora will be better positioned for a new and exciting next phase of growth. This renewed investment reflects Aurora’s commitment to polymer compounding and helps us serve customers better with greater resources for product development and service excellence.
“The mission at Aurora Plastics remains the same – we want to be our customers’ first choice in polymer compounds,” says Hughes. “With Nautic as our new investor and majority shareholder, we will benefit from their strong record of creating value with teams just like ours. We look forward to continued innovation and providing the best in service to all our customers.”
Founded in 1997 and headquartered in Streetsboro, Ohio, Aurora Plastics is known for providing high-quality polymers, industry-leading service, and customized solutions. The company offers a broad range of products, all delivered with special attention to consistency and reliability and designed to meet specific customer needs through a collective exchange. In addition to their Streetsboro production facility, the company has manufacturing capabilities throughout the U.S. and Canada: North Carolina, Quebec, Massachusetts, and Texas. For more information, visit www.auroraplastics.com.
Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrials, and services. Nautic has completed over 140 platform transactions throughout its 35-plus year history. Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth. Nautic generally makes equity investments of $50 to $400 million or more. For more information, please visit www.nautic.com.
Sue Safos, 440.283-5004