Matrix Announces the Sale of MXL Industries, Inc.
RICHMOND, VA / BALTIMORE, MD – June 7, 2022 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the sale of MXL Industries, Inc. (“MXL” or the “Company”), a manufacturer of high-quality optical plastic products, to Plaskolite LLC (“Plaskolite”), a global leader in the manufacturing of engineering thermoplastics.
Headquartered in Lancaster, PA, MXL molds and coats specialty-crafted optical engineering thermoplastic parts for various military, motorsport, life safety, medical, and aviation applications. MXL is a one-stop shop for customers, offering mold design and construction, injection molding, coating, routing and assembly. The Company’s specialty-crafted optical plastic parts are used in mission-critical products including fighter jet helmets, medical-grade light fixtures and life safety equipment.
Matrix provided merger and acquisition advisory services to MXL, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by David Shoulders, Managing Director and Head of Matrix’s Consumer & Industrial Investment Banking Group; William O’Flaherty, Director; Matt Oldhouser, Senior Associate; Sahan Pandey, Analyst; and Matt Tomsuden, Analyst.
Mr. Shoulders noted, “The ownership group of MXL has built a highly differentiated business that has become a leader in the specialty markets it serves. MXL represents the latest niche manufacturing advisory assignment for Matrix. We were pleased to represent them on this successful outcome.”
Regarding Matrix’s services, Jim Eberle, President and CEO of MXL, commented, “My partners and I have been extremely impressed with the Matrix Team’s performance throughout the entire process. The professionalism and work ethic they displayed were exemplary.”
Founded in 1950 in Columbus, Ohio, by Donald G. Dunn and family, Plaskolite is a global leader in the manufacturing of engineering thermoplastics, including Acrylic, Polycarbonate, ABS and PETG Sheet, Lighting Profiles and PMMA Polymers. Plaskolite’s customized products are used in a wide variety of applications, including windows, doors, lighting, signs, point-of-purchase displays, transportation, security and bath products. Plaskolite serves a diverse customer base including distributors, OEMs and retailers.
Brubaker Connaughton Goss & Lucarelli LLC served as legal counsel for MXL. Trout, Ebersole & Groff, LLP provided tax and accounting advisory to the Company.