SCITECH Plastics Group, LLC
SCITECH Plastics Group, LLC (“SCITECH” or the “Company”), headquartered in West Brookfield, MA, is a full service plastic injection molder focusing primarily on medical products.
SCITECH was formed in August 2001 by the merger of two companies, which together comprised seven precision molding, tooling, and rapid prototyping operations, representing a 50-year history serving the plastics industry. Over the next two years, SCITECH’s revenue declined due to the weakness of the broader U.S. economy and pricing pressure from customers. Despite cost reductions, liquidity continued to be tight as a result of an over-leveraged balance sheet predicated on a growth economy following the merger.
SSG Capital was retained to perform a comprehensive valuation of the Company. The valuation was used as a basis for negotiations between SCITECH and its senior lenders.