Thermotech

The Company

Thermotech Company (“Thermotech” or the “Company”) is a leading supplier of custom, precision-engineered, injection molded components and assemblies. The Company primarily serves the automotive, small engine, consumer, and electronic markets. Through its three manufacturing plants located in Hopkins, Minnesota; Juarez, Mexico; and Querétaro, Mexico, Thermotech offers a full-service, value-added solution to its customers rather than simply the production of parts. As such, Thermotech manages the entire process of bringing its customers’ products to market by combining its core manufacturing capabilities with project/process development, tooling solutions, quality control and project management.

The Situation

Following a number of inquiries for the sale of the Company, the shareholders of Thermotech wanted to consider several exit options. As such, KPMG Corporate Finance was retained as the exclusive financial advisor in connection with the sale of the Company.

The Transaction

KPMG Corporate Finance conducted a competitive process that resulted in a sale to Pioneer Plastics, Inc., a manufacturer of plastic products with multiple locations. KPMG Corporate Finance successfully leveraged its deep understanding of the industry, experience with middle market transactions, and extensive relationships with strategic buyers and private equity firms around the globe to find the optimum counterparty and complete a transaction that achieved the owners’ objectives. KPMG Corporate Finance supported the Company through the entire process, including preparing marketing materials, contacting and arranging meetings with potential counterparties, coordinating due diligence, and successfully negotiating the terms of the transaction agreement.