ACME Cosmetic Components

Our team advised ACME Cosmetic Components on its sale to Federal Tool & Engineering.

ACME Cosmetic Components

Transaction Details

Sell-Side Advisor

Year: 2024

Client: ACME Cosmetic Components

Industry: Industrials & Manufacturing

Hedquarters: Seacaucus, NJ

Overview

Completed by the Vantage Investment Banking team under a prior firm, ACME Cosmetic Components, a global manufacturer of stamped metal components for the color cosmetics industry, has been acquired by Federal Tool & Engineering

About ACME Cosmetic Components

Headquartered in New Jersey with additional operations in China, ACME Cosmetic Components manufactures standard and custom metal godets used to package high-end cosmetics such as blush, powder, lipstick, eyeshadow, and nail polish. ACME serves a global customer base including prestigious brands such as Estee Lauder, Revlon, Loreal, Maybelline, and Coty. ACME was a portfolio company of Foundation Investment Partners and Kirtland Capital Partners, both acting as private equity firms focusing investments on lower middle market businesses.

About Foundation Investment Partners

Founded in 2009, Foundation Investment Partners is a private equity firm focusing investments on niche manufacturers, high-value distributors, outsourced business service providers, and select software developers. The firm looks to build collaborative relationships with management teams, providing capital and support to strengthen long-term performance and expansion.

About Kirtland Capital Partners

Headquartered in Orange Village, OH, Kirtland Capital Partners has a 40 year track record of investing in lower middle-market companies across niche manufacturing, distribution, and business services. Kirtland typically targets companies located in the United States and Canada with revenues greater than $10MM. 

About Federal Tool & Engineering

A portfolio company of Milwaukee-based private equity firm, Generation Growth Capital, Federal Tool & Engineering is a contract manufacturer of metal stampings, fabrications, and assemblies to leading OEMs in Wisconsin, the Midwest, and Mexico. Federal Tool & Engineering’s parts and assemblies go into commercial and industrial generators, commercial foodservice equipment, commercial and vehicle lighting and steering, communication equipment, and medical applications.

About Generation Growth Capital

Generation Growth Capital is a Milwaukee-based lower-middle market investment firm that partners with manufacturing, service, and distribution businesses. The firm focuses on investing in companies with proven profitability and sustainable niches, typically with enterprise values under $30MM and revenues from $5MM to $50MM.

Deal Team

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Alex Penkwitz

Vice President & Co-Founder

262-339-8772

Biography

Working in the middle market investment banking industry since 2020, Alex is responsible for leading the day-to-day execution of M&A transactions for the Vantage Investment Banking team. His responsibilities span all phases of the transaction process, including financial modeling and valuation analysis, preparation of marketing materials, buyer and investor outreach, and coordination of due diligence activities. He plays a central role in managing timelines, facilitating communication between clients and counterparties, and supporting negotiations to ensure smooth execution.

Alex has advised on more than 25 M&A, Debt Placement, and Capital Raising transactions across multiple industries, including industrials & manufacturing, business services, technology & IT services, consumer products, and food & beverage. His experience working with both privately held businesses and institutional investors gives him a well-rounded perspective on the strategic, operational, and financial considerations that drive successful outcomes.

Alex holds a BBA in finance from Marquette University, centering his education around investments and participating in the Accelerating Ingenuity in Markets (AIM) Program. 

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Bill Penkwitz

Partner & Co-Founder

414-559-3519

Biography

Bill brings more than 25 years of investment banking experience, previously founding and building a boutique investment banking firm focused on advising middle market companies on mergers and acquisitions, debt placements, capital raising, and strategic advisory transactions. Over the course of his career, he has advised on more than 150 transactions across a wide range of industries. Bill remains active in the greater Milwaukee community, serving as a board member of several Wisconsin-based organizations and a shareholder in a number of privately held businesses.

Bill’s extensive experience gives him a unique perspective on both the advisory and operational sides of businesses, allowing him to provide thoughtful, senior-level guidance to business owners, management teams, and investors. Bill remains actively involved in all aspects of client engagements, ensuring each process benefits from his deep industry knowledge and leadership.

Prior to entering investment banking, Bill spent several years with U.S. Bank Capital Markets where he personally arranged over $200MM in structured finance transactions. Bill earned his Masters Degree in accounting and received a BBA in finance from the University of Wisconsin-Milwaukee and has passed the CPA exam.

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