Sequel Holdings Exits Its Investment In WL Plastics
Sequel Holdings, L.P. announced today that it has sold its stake in portfolio company WL Plastics to INEOS USA Manufacturing LLC.
WL Plastics, headquartered in Ft. Worth, Texas, is one of the largest manufacturers of high density polyethylene (HDPE) pipe products in North America with production facilities in Georgia, Kentucky, South Dakota, Utah, Texas and Wyoming.
Sequel first invested in WL Plastics in November 2005, in conjunction with Crow Kaminski Capital Partners and Falcon Investment Advisors. The investment was made out of Sequel’s first fund.
Sequel’s and the shareholder group’s capital was used to expand capacity, upgrade systems, add depth and talent to the management team, and make a strategic acquisition. During Sequel’s tenure, WL Plastic’s production footprint grew from 3 plants in 2 states to 7 plants across 6 states.
John Madden, Sequel’s managing partner, said “We are pleased that Sequel’s support helped fund WL Plastics’ geographic footprint and earnings growth. We are proud of WL Plastics’ development into an industry leader, and delighted to have been able to offer our investors a successful realization from this investment.”