MINNEAPOLIS, MN – May 30, 2023 – Northborne Partners is pleased to announce that it served as the exclusive financial advisor to Intek Plastics (“Intek”) on its acquisition by Vermilion Group (“Vermilion”) in Q4 2022. Financial terms were not disclosed.
Intek Plastics has been a long-time manufacturer and supplier of plastic components to the fenestration (window and door) market and has strong partnerships with the top window & door manufacturers in the USA and elsewhere. In addition, Intek is recognized as a leader in the LED lighting market with extruded lenses and reflectors, and it supports the fast-growing controlled environment agriculture space among other markets.
Jill Hesselroth, CEO of Intek said, “Northborne’s expertise representing manufacturing businesses was invaluable as Intek explored strategic options and ultimately identified the right partner in Vermilion Group. My team and I look forward to continuing to grow the business in this next phase of its ownership.”
Lathrop GPM served as legal counsel to Intek Plastics.
About Northborne Partners
Northborne Partners is a preeminent middle market investment banking firm focused on providing M&A advisory services to companies in the food & consumer, healthcare, industrials and business services sectors. It specializes in advising private-equity-owned and closely held businesses on complex sell-side transactions. Northborne Partners is headquartered in Minneapolis, MN. For more information, please visit northborne.com.
About Intek Plastics
Intek Plastics supplies engineered thermoplastic extrusions, fabricated sub-assemblies and value-added services to original equipment manufacturers requiring high-performance, custom plastic solutions. To learn more about Intek Plastics, please visit www.intekplastics.com.
About Vermilion Group
Vermilion seeks to acquire, operate, and grow a diverse portfolio of high performing, impact-oriented businesses on behalf of the Mortenson family. Additional information is available on Vermilion Group’s website at www.vermiliongroup.com.
Website includes transactions completed by Northborne professionals at prior firms.