Oxford Financial Group Announces
Parkway Purchase
August 30, 2006
Oxford Financial Group, Ltd., headquartered in Indianapolis,
Indiana, announced today that it has completed the acquisition of Parkway
Products Inc. (“Parkway”). The acquisition was
completed by Parkway Mayfair, Inc., a strategic investment entity created by
Oxford on behalf of a private investor group and the management of Parkway.
Parkway Mayfair is a continuation of Oxford’s Mayfair Management Buyout
strategy of investing directly in privately held companies with exceptional
management teams.
Parkway, headquartered in Florence, Kentucky, is a leader in the
manufacturing of highly engineered components and subassemblies for original
equipment manufacturers (“OEMs”) and contract manufacturers (“CMs”)
within the aerospace, commercial and industrial marketplace. Parkway utilizes
advanced materials and processing technologies including light-weight
composites, the high temperature molding of advanced materials such as
Thixomolded® magnesium, and high performance plastics such as Torlon® and
PEEK®. The company, founded in 1946, operates additional manufacturing
facilities across the US and Mexico.
Oxford is actively involved in identifying and analyzing
high-quality private placement and alternative investment opportunities through
its Mayfair Management Buyout strategy. As part of identifying new opportunities
for clients to achieve diversification and increased returns, Oxford seeks
investments in privately held companies that have highly talented, motivated and
successful management teams. Oxford’s alternative investment strategy also
includes Savile Row investments which provide clients access to elite private
equity funds.
Parkway’s current management and employee teams will remain
intact and will continue to provide world-class products and service to its
customers. “We look forward to continuing to serve our customers and helping
them maintain their market-leading positions,” said President and CEO Joseph
A. Klunk. “We believe the support of Oxford Financial Group will allow us to
continue to fulfill our mission to our customers, employees and communities.”
“We are very excited to have identified and delivered an
excellent investment opportunity like Parkway to our clients,” said Jeffrey H.
Thomasson, CEO and Founder of Oxford Financial Group. “Parkway is a leader in
the industry and a trusted partner to their customers. We are pleased to partner
with Joe and his team as they continue to grow Parkway.”
About Oxford Financial Group Ltd.
Oxford Financial Group, Ltd., has been providing quality and
completely open architecture, fee only financial advice to significant families
and institutions throughout the Midwest and beyond for more than 25 years.
Oxford has special expertise in the alternative investment space with emphasis
on hedge fund and private equity investments. Oxford’s alternative investment
strategies provide clients unique access to individual private placement
opportunities and options when building highly diversified portfolios.
Oxford’s Multi-Family Office brings clarity to its clients’
financial affairs by providing in-depth analysis and review of investment and
estate planning needs, cash flow and investments. Oxford provides personalized,
customized planning, as its services are driven by each individual family’s
needs, desires and circumstances. Headquartered in Indianapolis, Indiana, Oxford
presently advises on more than $14 billion in assets.
About Parkway Products, Inc.
Parkway Products, Inc. (“Parkway”), founded in 1946, is a
fully integrated manufacturer of engineered
components and subassemblies for original equipment manufacturers (“OEMs”)
and contract manufacturers (“CMs”). Parkway is a recognized leader in high
temperature molding of advanced materials, including high performance plastics,
composites, magnesium and elastomers.
Parkway Products serves a broad base of end markets including
aerospace, medical, transportation, building & construction, industrial,
telecom, consumer and electronics. Parkway operates seven production facilities
across fi ve states with two plants in Saltillo, Mexico.
Compression Molding of Epoxy Carbon Fiber SMC
January 25, 2005
ARTICLE: High Performance Composites Magazine (click heading above)
Purchase of Solvay Advanced Polymers, L.L.C. Parts Business
June 28, 2004
PRESS RELEASE: Solvay Advanced Polymers, L.L.C. Sells Parts Business to Parkway Products, Inc.
ATLANTA, GA (June 28, 2004)… Solvay Advanced Polymers, L.L.C. and Parkway Products, Inc. announced today that Parkway Products has purchased Solvay Advanced Polymers’ high-performance plastic parts business located in Atlanta, Georgia.
The business operates a facility which manufactures parts from Solvay Advanced Polymers’
TORLON® Polyamide-imide and KADEL® Polyketone resins, and is an automotive Tier 1 supplier holding certifications for QS 9000, TS 16949 and ISO 14001.
While specializing in serving the automotive market, the business also serves military, aerospace and various industrial markets. Parkway intends to maintain the plant’s expertise in part design, prototyping, molding and tool building.
Joe Klunk, President of Parkway Products said, “With the combination of Solvay Advanced Polymers’ leading position in high-performance resins and Parkway’s presence as a top tier North American molder, we expect to offer exceptional value and performance to new and existing customers.”
“This acquisition brings a tremendous talent and customer base to an already successful company,” said Joseph D.
Greulich, President and CEO of Solvay Advanced Polymers, L.L.C.
About Solvay Advanced Polymers
Solvay Advanced Polymers, L.L.C., is an indirect subsidiary of Solvay America, Inc., the U.S. holding company of Solvay
S.A. The company produces high-performance polymers that are used in a wide range of demanding applications in the automotive, aerospace, industrial, food service, medical and electronics industries worldwide. More information about this and other Solvay Advanced Polymers products and services can be found on the company's website at
www.solvayadvancedpolymers.com.
Solvay S.A. is an international pharmaceuticals and chemicals group with headquarters in Brussels, Belgium, employing about 30,000 people in 50 countries. In 2003, its consolidated sales amounted to EUR 7.6 billion generated by its three activity sectors: Chemicals, Plastics and Pharmaceuticals. Solvay
S.A. is listed in the Euronext 100 index of top European companies. Details are available at
www.solvay.com.
About Parkway Products
Parkway Products, Inc. is a privately held Florence, KY-based molder of high-performance materials. The company operates six manufacturing locations in the USA and two in Mexico. Parkway serves a broad base of industries including medical equipment, aerospace, electronic/telecommunications, automotive and consumer/industrial. The company is one of the top 100 largest molders in the USA. Details are available at
www.parkwayproducts.com.
Issued by Solvay Advanced Polymers, L.L.C. and Parkway Products, Inc.
Opening of Saltillo, Mexico Plant 2
October 1, 2002
Parkway Products, Inc., a Florence, Kentucky, USA based manufacturer of engineered components and assemblies, announces
the opening of its second plant in Saltillo, Coahuila, Mexico.
Saltillo Plant 2 will support the Company’s growing needs for injection molding, compression molding,
painting, assembly and other secondary processes for its commercial (non-aerospace) customers. Saltillo Plant 1 will now be
dedicated solely to the production of composite parts and assemblies for the aerospace industry.
Saltillo Plant 2 is 110,000 square feet and room is available for
continual growth.
In addition to labor savings, we can achieve cost reductions in freight and JIT inventory management for those customers
having their Mexican operation as the final ship point for Parkway Products de Mexico.
Opening of Saltillo, Mexico
Plant 1
May 22, 2001
Parkway Products, Inc., a Florence, Kentucky, USA based manufacturer of engineered components and assemblies, announces the
opening of its new plant in Saltillo, Coahuila, Mexico.
Parkway has built a new 20,000 square foot manufacturing plant in Saltillo, Coahuila, Mexico. Saltillo is located in
northeast Mexico close to the major industrial city of Monterrey, Nuevo Leon. It is about 200 miles from the US Texas
border. The plant opened in May, 2001 and can be readily expanded to meet increased customer demand.
This facility specializes in producing cost savings for customer parts that are highly labor intensive such as composite
parts and assemblies for aerospace.
Parkway to offer Thixomolded®
components
March 12,
2001
Leader in High-Performance Plastics to Introduce Thixomolding® Technology
Parkway Products Inc., a leading molder of high-performance plastic and elastomeric materials today announces that it will offer
Thixomolded® Components. Parkway will be one of only five firms in North America to manufacture components using Thixomolding®
technology, which produces cost effective, strong and lightweight parts that allow engineers increased design flexibility.
Parkway will manufacture EMI/RFI shielding enclosures, thin-walled, high-strength structural components and integrated
metal-plastic-elastomer
structures using this unique technology.
Parkway will address the needs of a broad range of customers in the telecommunications, automotive electronics,
computer and aerospace industries. Thixomolded® products combine the properties of magnesium metal alloys with the
process versatility of injection molding to produce durable, thin-wall components that are five to 20 times stronger
and more rigid than most plastics of comparable density. The electrical and thermal conductivity of magnesium enables
Thixomolded® components to effectively shield EMI/RFI emissions and optimize thermal management to support the trends
of product miniaturization. As one of the most environmentally friendly and cost effective design options,
Thixomolded®
components are fully recyclable and compliant with global initiatives.
"Thixomolding® will be a key technology for OEMs seeking strong, thin-wall, lightweight components and housings that
effectively manage EMI/RFI and heat transfer," said Alan Ridilla, newly named vice president. "We look forward
to using this technology to engineer the next generation of molded components."
Parkway expects the demand for Thixomolded® parts, already widespread in Asia, to increase steadily in the U.S.
because of the material's high performance and geometric versatility.
"Without question, there is a real need for Thixomolded products in the marketplace," said Joe
Klunk, President of
Parkway. "With Parkway's plastics manufacturing expertise, Parkway can quickly tap into this exciting new technology
and provide customers with advanced solutions to the issues they face."
Parkway acquires JIT Tool & Engineering, Inc.
June 13, 2000
Parkway Products, Inc., a Florence, Kentucky based molder of high performance plastic and elastomeric materials,
has purchased the assets of JIT Tool & Engineering, Inc. in Lee's Summit, Missouri (a suburb of Kansas City). This
is the Company's fourth acquisition in the past five years and expands its geographic presence and product line.
JIT produces high quality injection molds, metal stamping dies and metal stampings. The Kansas City region contains
nearly 2 million residents and provides Parkway a strategic location in the center of the country for growth.
The manufacturing operations at JIT will continue without interuption; however the name of the business will be
changed to Parkway Products, Inc. The plant will initially employ about 20 employees with plans to increase the
employment. The business is located in a new 16,500 square foot leased building.
Parkway has hired Patrick Hogue II, formerly President of JIT, as Plant Manager. Other key personnel formerly with
JIT shall remain including Anita Trumble as Office Manager. They will have the full support of Parkway's executive
management, corporate services group and national sales force.
|
