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Extrusion equipment supplier PTi repurchased by founders

Sheet extrusion machinery supplier Processing Technologies International (PTi) is back in the hands of its founders.  


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December 12, 2011 by Canadian Plastics

Sheet extrusion machinery supplier Processing Technologies International (PTi) is back in the hands of its founders.  

Dana Hanson, president and CEO, and Jon Roberts, senior VP of operations – both of whom founded the Aurora, Ill.-based company in 1988 – have repurchased controlling interest in the company from private equity firm Crystal Ridge Partners (CRP). New Jersey-based CRP originally purchased a controlling stake in PTi in August 2005.

The terms of the repurchase have not been disclosed.

“This is a very positive development and an exciting moment for our company, employees, and global customers,” said Hanson. “We have the best interests of the company at heart and we are committed to the long-term growth of the company and its products.”

The new ownership structure – which gives Hanson and Roberts 100 per cent ownership and in-house control – won’t have an impact on day-to-day operations, Hanson continued, nor will there be any change in the company’s management team. “Overall, our management goals are more aligned in this ownership platform versus the previous one with diverse ownership,” Hanson explained.

The repurchase makes PTi the only sheet extrusion machine maker in the U.S. whose two founders are the owners and serve as operational managers, he added.