January 27, 2021 – Southlake, TX – On December 18, 2020, Prophet Equity (“Prophet”), a Southlake, TX-based private equity firm, completed the sale of Total Plastics International (“Total Plastics” or the “Company”) to the privately held Plastics Family, which comprises many market leading plastic distributors around the world.
In March 2016, Prophet acquired Total Plastics from A.M. Castle & Co. (NYSE: CAS), partnering with the Company’s President, Tom Garrett, and long-time industry veteran team. Since that time, Total Plastics successfully acquired and integrated two additional facilities, expanded and refined the distribution and value-add capabilities of its unique hub-and-spoke model, divested select non-core operations, and grew core sales and EBITDA approximately 36% and 194%, respectively.
Charlie Velie, Senior Associate at Prophet Equity said, “Total Plastics commitment, focus and dedication enabled the Company to outperform in a highly competitive market. The unique and efficient redesign of their operating model facilitated sustainable and profitable growth, transforming the Company into a clear leader in the industry.”
“It has been an honor working with the Total Plastics management team,” said Charles Collie, Managing Director at Prophet Equity. “I am particularly proud of the Company’s work and responsiveness to the COVID-19 pandemic, producing over 5 million face shields and other personal protective equipment in support of healthcare workers and other first responders.”
Ross Gatlin, Managing Partner of Prophet Equity said, “The deployment and execution of our Holistic Value Creation™ (HVC™) process at Total Plastics translated into a highly successful outcome for all investors and stakeholders. It has been a pleasure working alongside such a talented team at Total Plastics, and we wish them and the Company the best in their next phase of growth under the ownership of the Plastics Family.”
William Blair served as exclusive financial advisor and Jackson Walker as legal counsel to Total Plastics and Prophet Equity.