Chicago investors buy TPU manufacturer
10/06/2013
Wind Point acquired Argotec in partnership with Guy Broadbent, who will join the company as president and chief executive. Mr Broadbent has 27 years’ experience in the plastics, specialty chemicals and manufacturing industries, most recently serving as chief executive of biomanufacturing company Xcellerex, itself recently acquired by GE Healthcare.
A spokesman for the board of Argotec said the acquisition had come about now because the TPU manufacturer’s founders, Dick Barnes and Steve Wolkenbreit, both want to retire.
Argotec has more than doubled in size over the last five years and is anticipated to redouble in the next three to five years with the capital available through Wind Point Partners, the company said in a statement.
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