Transaction Overview
- Represented Bedford Technology, a portfolio company of Hillcrest Capital Partners, in its sale to Tangent Technologies, a portfolio company of The Sterling Group.
- Bedford Technology converts recycled plastics into three types of plastic lumber: Furniture Grade Plastic Lumber is used by mainly by makers of outdoor furniture (e.g., Adirondack chairs), Standard Plastic Lumber is used in a wide array of industrial, recreational and agricultural applications, Structural Plastic Lumber is ideal for marine and other applications where strong, water-resistant materials are needed
- Bedford was owned by Hillcrest Capital Partners, a family office based in Minneapolis
Key Observations
- Tangent was not a player in standard plastic lumber. For Tangent, Bedford’s capability represented a growth opportunity.