DATE: August 29, 2014
Who is Our Client?
- Founded in 1982 and based in Iowa, Lomont Molding is a world-class manufacturer of low pressure structural foam and high pressure solid injection molded thermoplastic components.
- From simple to highly engineered, proprietary to custom OEM, Lomont has consistently delivered high quality products to its customer base of over 1,100 active accounts.
- Lomont’s customer base is diversified across multiple industries including proprietary safety products for the chemical industry, proprietary concrete accessories for the commercial, industrial and infrastructure construction industry, building maintenance products, blowers and fans for the HVAC industry, energy, defense and agriculture.
Why Did Lomont Molding Hire Nolan?
- Lomont sought a liquidity event for its shareholders and an acquisition partner who would benefit from their best-in-class operations.
- Lomont represented a unique opportunity to acquire a leading plastic component manufacturer that offers a single source solution to its customers’ needs, taking projects from concept to production with in-house design, state-of-the-art engineering, tooling, quality assurance, in-mold technologies and decorating, assembly and secondary operations.
What Value Did Nolan Deliver?
- Nolan marketed Lomont’s strong market position, leveraging their diversity of equipment and capabilities, proprietary product lines, favorable markets exposure, one-of-a-kind internet solution and eCommerce sales platform, as well as their experienced management team as an attractive acquisition opportunity.
- Included in the list of potential buyers was Summit Equity Group, a private investment group with a history of acquiring middle market companies and partnering with its holdings to deliver long-term growth, success and value.
- Summit presented Lomont the best acquisition proposal which included a combination of favorable economics, certainty to close and operational plus cultural considerations.