CFA Announces Acquisition of Blue Star Plastics, Inc. by Seventh District Holdings, LLC
|Blue Star Plastics acquired by Seventh District Holdings
2013-02-26 19:34:08 - Corporate Finance Associates Exclusive Advisor to Blue Star Plastics, Inc.
Corporate Finance Associates, an international investment banking services firm providing merger and acquisition, business valuation, capital resource and financial advisory services, announced that it was the exclusive advisor to Blue Star Plastics, Inc. in its recent acquisition by Seventh District Holdings, LLC.
Blue Star Plastics, a Lexington, Kentucky corporation was founded in 1984 by Roger Storch and Don Keim, both former
executives with Texas Instruments. Blue Star Plastics specializes in custom injection molding of thermoplastic components and contract manufacturing of plastic assembled products, with a focus on excellent quality and customer service.
Seventh District Holdings LLC is a subsidiary of Seventh District Capital, which is owned and led by Mr. Ahmad Hamza and his son Mr. Mohammed Hamza. Seventh District Holdings is a family run international operation with business connections in Europe, the Middle East and now the United States. Mr. Mohammed Hamza, Director of Seventh District Holdings will be moving to Lexington, Kentucky to assume leadership of Blue Star Plastics.
“Investing in Blue Star Plastics fit ideally into our group’s investment strategy. They have a strong business concept, a long established successful track record, an excellent customer and supplier base, quality products and a highly professional management team,” said Ahmad Hamza. “Lexington, Kentucky is an ideal location for our first venture in the US and one from which we can grow”. “Continuing to serve our existing and new customers is our top priority,” commented Mohammed. “I am very excited to be involved with a company as well respected as Blue Star Plastics. We view this as a long term investment with the objective of growing the business successfully into its next phase while adding value to our customers, suppliers and the community along the way”.
According to Roger Storch, the former CEO and co-founder of Blue Star Plastics, “The timing was right for us to make this move. Blue Star grew 25% last year and should exceed that this year. Continued growth requires additional investment and the Hamza family is prepared to take the necessary steps for Blue Star Plastics to reach the next level. This is great news for our people, customers, and the Lexington community. Don and I will be staying on in an advisory and training/transitioning capacity up to 6 months. After that, we will still be somewhat connected for a couple of years. We plan to ensure a smooth transition of ownership to the Hamza’s.”
About Corporate Finance Associates
Celebrating more than 56 years of service, Corporate Finance Associates is a major investment banking firm, with over 20 offices across North America and Canada, 3 in India and 15 partner offices in Brazil, China and throughout Europe providing middle-market companies with a wide range of financial advisory services and access to capital resources. More information is available via the Internet at www.cfaw.com.