Banner Capital Announces Acquisition of Three Plastic Engineering Companies
Banner Capital has announced an agreement to acquire Seaway Plastics Engineering, MME Group, and Wright Engineered Plastics. These companies will be consolidated under a new entity called Seaway Group, which is expected to close in the fourth quarter of 2026. The acquisition marks Banner's third platform for its Fund II portfolio following Western Pavement Services and Roof Restoration Group. Seventeen Capital, led by medical device industry veteran Ron Labrum, will serve as a strategic co-investor in this transaction. Upon closing, Labrum is set to become Executive Chairman of Seaway Group. The firm emphasizes the critical role of outsourced design and manufacturing partners for leading medical device OEMs. Banner Capital focuses on lower middle market private equity investments in essential services companies across the Western U.S., with a portfolio size of $611M as of June 30, 2026. The firm aims to support growth through collaborative partnerships.
Topics: acquisition executive leadership medical device manufacturing private equity