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Craig Homan had over 25 years of progressive experience
in matters relating to the financial control of manufacturing plants
and divisions, and as a CFO of publicly traded manufacturing companies.
He had gained in-depth operational management experience of manufacturing
companies, and in all aspects of the acquisition of manufacturing
companies. After forming a Toledo-based automotive component group
of manufacturing companies in 1997, he exited that business in 2004
and decided to relocate to South Carolina for lifestyle purposes.
Mr. Homan formed CH Industries, Inc. (CHI) and needed
assistance with targeting, analyzing and financing possible acquisitions
in the plastics manufacturing industry. He was referred by the Toledo,
Ohio office of Source Companies, LLC to its affiliate in Charleston,
South Carolina. There, Anthony Hardwick, a managing Director of
Source, who also had considerable experience as a financial officer
in acquiring and financing manufacturing companies, assisted CH
Industries, Inc. complete its first acquisition of Easley Custom
Plastics, Inc. (ECP), which was formerly known as McKechnie Plastic
Components. ECP is a key player within the plastic injection-molding
segment within a 250-mile geographic region. The Company operates
from a large, modern facility comprising approximately 264,000 square
feet of manufacturing and office space on 74 acres of land. At the
time of the acquisition, ECP employed roughly 170 people.
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| This announcement appears as
a matter of record only. October 2004 |
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