Baird invests in Singapore’s Boston Plastics
Baird Capital Partners Asia has invested in Singapore plastic injection molding company Boston Plastics. It acquired shares from individual investors and company management, with the latter retaining majority control of the business.
Although founded in Singapore in 2005 and still headquartered in the city-state, Boston Plastics' manufacturing operations are entirely based in China. It has facilities in Shanghai, Changchun and Taicang.
The company supplies components to the automotive, consumer electronics, imaging and industrial markets, serving an international customer base. It will use Baird's experience in the plastics industry to enlarge its footprint in the automotive, healthcare and clean energy sectors.
"We are excited about the partnership with Boston Plastics," said Huaming Gu, a partner at Baird, who will join the Boston Plastics board as part of the deal. "Our global experience and relationship network in the plastic injection mold industry are nice complements to the strong leadership skills of the Boston Plastics team."
Baird Capital Partners Asia is the China-focused investment unit of Baird Private Equity, which is part of Robert W. Baird & Co.
In May, the company acquired a minority stake in Chinese truck maker Henan Bingxiong Refrigerated Truck, also known as Ice Bar. Its China portfolio also includes Beijing ADG Scaffolding Engineering, contract pharmaceutical research firm Frontage Laboratories, clinical testing service provider Kindstar, and valve and fittings manufacturer Xinghe Valve.
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