September 2022 – Liberty Center, OH – Triple Diamond Plastics Inc. (“TDP”) based in Liberty Center, Ohio has been acquired by AuSable Capital Partners of Santa Monica, CA.

TDP makes collapsible containers based on structural foam made from recycled plastics. The firm’s containers are used in several industries including agriculture, automotive, and food and beverage. The company has 40 employees. Annual sales range from $10-12M.

“We have been in and out of plastics, mostly in machinery and robotics,” AuSable Managing Director Matt Galvez said in a Sept. 30 phone interview. “Negri Bossi had a customer that was similar to Triple Diamond, and I liked the model. We wanted to get into industrial packaging.” AuSable previously was part-owner of machinery firm Negri Bossi before selling in 2019.

Galvez said he has plans to grow TDP, initially by installing a crane and other new machines and by doing more in-house recycling.

Kristine Taylor, TDP majority owner, will stay on for a period of time to assist with the transition to the new owner. TDP President and CEO Roger Norden also will remain with the firm, while Chris Beck and Mike Campbell have been added to the management team. Beck will run sales and marketing for the firm, while Campbell will do the same for manufacturing.

Plastics-focused investment banking firm MBS Advisors of Florence, MA represented Tiple Diamond in the transaction.

Excerpts from above were taken from a recent Plastics News article.

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