Milwaukee-based merger and acquisition advisory firm Bridgewood Advisors recently advised Walworth-based Austin Family Investment Group on its purchase of Lake Geneva-based Plasti-coil Inc.
Austin Family Investment Group principal Larry Austin is an experienced plastics executive who spent 30 years as vice president of finance at Miniature Precision Components Inc. During his time at MPC, Austin increased revenue from $2 million to $180 million, and earned the Plastic News Processor of the Year Award.
AFIG purchased the company for an undisclosed price from its founders, Craig and Ruth Ferguson. Founded in 1985, Plasti-coil has a 40,000-square-foot molding facility and 20 molding machines that can insert mold, over-mold and injection mold parts in a variety of sizes and complexities. It has about 25 employees.
Austin will join the team at Plasti-coil and apply his experience to the company.
“We have a very skilled team of engineers, as well as a team of experienced production specialists,” he said. “All of us are ready to assist our customers to achieve their goals.”
Going forward, Austin plans to grow the company by continuing to serve existing customers. He also plans to hire more employees over the next 12 to 18 months.
“We want to be partners with our customers in any area that adds value to our partnership, to grow our business and create jobs in the United States,” he said.
