Nickolas Asset Management, a Sarasota-based family office owned by Nickolas Reinhart, has acquired a manufacturing plant. The 120,000-square-foot facility was owned by Material Difference Technologies, a plastic resin supplier and processor headquartered in Bradenton. Financial terms of the deal for the facility — its specific location was not immediately available — were not disclosed.
“This was a business where the owner was ready for retirement and needed a thoughtful exit,” Reinhart says in a statement. “It was a well-run operation with good people and strong technical capability, but like many owner-operated manufacturing businesses, it had reached a transition point. Traditional private equity often isn’t designed for situations like that.”
Jered Ingham, the second-generation owner who managed the business before the acquisition, will remain with the company as operating partner and COO of the division to ensure continuity as the business enters its next phase of growth, according to the statement…