We are very excited to share that Mold-Rite Plastics has a new PE sponsor. Clearlake Capital Group, L.P. signed a definitive agreement to acquire Mold-Rite Plastics from Irving Place Capital. This new sponsorship will enable new investments, continued expansion and additional resources that we collectively needed to accelerate growth through our amazing strategic partnerships.
We see this as a terrific opportunity to continue delivering the same great Mold-Rite value you expect while remaining fast, flexible and responsive. The Mold-Rite mission is unchanged! We plan to continue operating with the same philosophies and core leadership principals of Safety, Integrity and Honesty with a priority to delight our customer. Timing is perfect and will provide exactly what was needed to support your ever-increasing demand and invest back into the organization what is needed keep us in the lead as your valued supplier.
It is critical to me and my team that we provide our customers with a solid sense of security that this change will only enhance the products and services Mold-Rite has to offer and we will work diligently to make the transition seamless for you. We are beyond excited to build our strategy together in an effort to leverage and expand the amazing partnerships.
Over the next few weeks, we will be reaching out personally to discuss details further. Thank you for your support and for being so instrumental in our success which has enabled us to reach this monumental milestone. To view Clearlake Capital's press release, click HERE.
Brian Bauerbach, President and CEO