Vital Plastics sold to Michigan

Baldwin, Wis.-based Vital Plastics Inc., a high-volume injection molding and assembly company, has been sold to the Bloomfield Hills, Mich.-based private equity firm Wolverine Capital Partners.

Founded in 1994, Vital Plastics manufactures products such as automotive and window clips, medical parts and industrial components for the transportation, consumer durable and building products markets.

Vital Plastics is a custom injection molder with two plants, about 200 employees and 60 injection molding machines. About 120 of the workers are full time. The company also has a contingent of assembly workers who pick up components, take them home and bring them back assembled a week later.

Vital was a finalist for the Plastics News Processor of the Year award in 2018 and was the 2018 winner of the Plastics News Excellence Award for Employee Relations.

The company is known for its unique structure that sees some employees working from home to do complex assembly.

"Going to work shouldn't be drudgery; it shouldn't be a soul-numbing exercise. It should be a favorable part of your life, and that's what we strive for," majority owner Terry Townsend said at that time.

In the last 10 years, Vital Plastics officials have been transitioning leadership from Townsend to CEO George Hauser and President and Chief Financial Officer Matthew Fish. The two executives helped grow and modernize the company with automation and reporting systems.

Fish, who will continue to oversee daily operations, said Wolverine Capital will be a good partner.

"Of all the groups we interacted with, their team resonated most deeply with us given their straightforward approach and passion for building businesses," Fish said in a news release.

"We are uniquely aligned in recognizing the attributes that have driven the company's success: Its loyal employee base and longstanding customer relationships, most of which date back multiple decades. We look forward to our next chapter of growth with Wolverine Capital," Fish said.

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