Sikich Investment Banking Advises Midwest Container and Industrial Supply Company in Sale to Hub Plastics

News provided by

Apr 11, 2023, 16:17 ET

CHICAGO, April 11, 2023 /PRNewswire/ -- Hub Plastics recently acquired Midwest Container and Industrial Supply Company (Midwest Container), a St. Louis-based manufacturer of plastic bottles. Sikich Investment Banking served as the exclusive sell-side adviser to Midwest Container.

"As I prepared for my retirement, I turned to David Sauerburger at Sikich, my tax adviser since my company's inception over 40 years ago," said Kent Meentemeyer, owner of Midwest Container. "He suggested I work with the Sikich Investment Banking team. Their guidance was essential throughout the entire process. Transitioning the leadership of Midwest Container to Hub Plastics gives me peace of mind that the legacy of my company and the employees are in good hands."

Midwest Container manufactures plastic bottles in high- and low-density polyethylene, clarified polypropylene, PET, and more. The company produces 300 different configurations of rigid plastic bottles and offers custom production, including bottle design, SLA models and prototype molds.

"The company has built a strong, reputable foundation in plastics manufacturing, and we wanted to ensure Midwest Container's legacy would live on as Kent transitioned to retirement," said Susan Tomilo, managing director of Sikich Investment Banking.

Hub Plastics produces blow molding stock as well as custom bottles and jars in HDPE, LDPE, PP, PET, styrolux, and post-consumer resins. The company is headquartered in Ohio.

This acquisition expands Hub Plastics' reach in the Midwest region. Both companies have significant overlap in customer base and suppliers. Hub Plastics' purchase of Midwest Container adds complementary product offerings the company has yet to manufacture until now. Midwest Container will now be known as Hub Plastics - Midwest.

Sikich Investment Banking offers capital markets advisory and mergers and acquisitions services. The team has deep experience across many industries, particularly manufacturing and distribution, technology, health care and life sciences, and business and professional services.

Transaction terms were not disclosed.

ABOUT SIKICH LLP

Sikich LLP is a global company specializing in technology-enabled professional services. With more than 1,600 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.

*Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Adviser. 

SOURCE Sikich