PTi founders regain controlling interest in company from Crystal Ridge partners

The original founders of Processing Technologies International (PTi), a leading global manufacturer of high-performance sheet extrusion machinery, have repurchased controlling interest in the company from private equity firm Crystal Ridge Partners (CRP), Maplewood, N.J., the company announced. Dana Hanson, President and CEO, and Jon Roberts, Senior VP of Operations, purchased the outstanding majority stake on Dec. 2, thus regaining 100% ownership and in-house control, according to Hanson.

“This is a very positive development and an exciting moment for our company, employees, and global customers,” said Hanson. “We have the best interests of the company at heart and we are committed to the long-term growth of the company and its products.” Crystal Ridge Partners originally purchased a controlling stake in PTi in August 2005.

The new ownership structure will have no impact on day-to-day operations. In addition, Hanson said there would be no changes in the company’s management team. “Overall, our management goals are more aligned in this ownership platform versus the previous one with diverse ownership,” he explained.

Hanson noted that the re-purchase was successfully completed without any debt leveraging by PTi. The company is firmly positioned as a global leader in technologically advanced sheet extrusion systems and is keeping “an eye on the horizon,” according to Hanson. In terms of future expansion, PTi is examining several strategic acquisition targets.

PTi is the only sheet extrusion machine maker in the U.S. whose two founders are the owners and serve as operational managers.