Industry:	Diversified Plastic Manufacturing & Assembly
		Location:	Midland, Ontario, CANADA

Background:  Baytech Plastics (www.baytechplastics.com) designs and delivers high quality plastic assemblies to customers in North America and overseas.  Baytech Plastics was founded in 1946, grew over the years, and developed experience in thermoplastic and thermoset plastic manufacturing processes.  The owner of Baytech Plastics desired liquidity and decided to sell the company.

Our Role and Results:  The principals of Wolverine Capital Partners invested alongside management to purchase Baytech Plastics.  We allowed management to personally invest at the same price as our principals and provided the management team a carried interest in the success of the business.  Our principals and the management team still own Baytech Plastics today and have worked together to achieve to following accomplishments:

• Grown revenue from approximately $20 million to $40 million
• Significantly diversified the customer base to serve multiple industries: consumer, construction, automotive, electrical, telecommunications and electronics
• Reduced debt to equity ratio, while expanding
• Purchased additional large tonnage machinery
• Captured additional value-added components and assemblies business
• Expanded engineering capabilities
• Developed manufacturing technology in the areas of gas assist and insert molding
• Invested an additional $6 million in a single year to enhance our competitive position