MASON, OH –
May 18, 2012
The CM Paula Company, a holding company headquartered in Mason, Ohio, announced today the acquisition of ART Technologies, a global supplier of thrust bearings and precision metal stamping components for the automotive, tractor trailer, heavy truck, and appliance industries. Founded in 1943, ART Technologies combines proven past technologies with leading edge engineering and the latest available production technology to offer unique solutions for manufacturing unique and custom stampings, bearings, and assemblies. ART Technologies’ high volume precision metal forming plan is located in Hamilton, Ohio, and all business operations will remain in this facility moving forward. ART Technologies, Inc. is ISO 9001:2000 and ISO/TS 16949:2002 registered. ART Technologies becomes the fourth independent business line in a growing family of companies acquired by The C.M. Paula Company since 2005, following Champion Treasures, a leading supplier of sports novelties, Up With Paper, the worldwide leader in the development and marketing of pop-up greeting cards and stationery, and GeoCentral, a leading supplier of gift and novelty products in the geological, educational, and souvenir markets.
“We are pleased to welcome ART Technologies and its associates in joining CM Paula’s family of companies,” said Greg Ionna, CEO of CM Paula. “We recognize ART’s strong management team, dedicated employees, solid customer relations and future growth opportunities as keys to their ongoing success. We hope to leverage these resources to grow the business through organic growth and strategic acquisitions. With this acquisition, ART Technologies will further diversify the CM Paula revenue base, consistent with the company’s overall strategic direction.” Ionna indicated that CM Paula’s strategic and marketing expertise, as well as additional operating capital, will enable ART Technologies to further advance along the leading edge of engineering technology, accelerating the company’s move towards the future with expanding capabilities and an unparalleled combination of people, process, and product. “We thought CM Paula had great resources to compliment ART’s already successful business lines as well as a family culture that would be in line with how the company has been run since their inception,” said Brent Rippe, from Rippe Kingston Capital Advisors who advised ART on the sale. “I felt this deal made a lot of sense for both parties and expect Paula to successfully carry on from where the former owners left off.” The C.M. Paula Company was founded in 1958 and remains privately owned by its founder Charles McCullough. In January 2005, the company completed a strategic transition from a supplier of consumer products in the stationery and gift products to a management company through a series of acquisitions. ART Technologies become the sixth acquisition during this time period; four of those acquisitions are stand-alone companies, while the other two have been absorbed into existing operations. Rippe & Kingston Capital Advisors (RKCA) is the leading tri-state capital advisory firm, specializing in mergers and acquisitions, recapitalization, financing and distressed advisory for regionally based businesses in national and international markets. A registered broker-dealer since 1986, Rippe & Kingston Capital Advisors serves middle-market companies and their owners across a variety of industries.