Perrin Manufacturing Announces Acquisition of Global Plastics, Ltd

Perrin Manufacturing Company announced today its acquisition of Global Plastics Ltd. of Surrey, British Columbia. Global Plastics is a leading manufacturer of innovative, proprietary dispensers for the Away From Home (AFH) dispenser industry. Together Perrin and Global will assume a leadership position in the AFH dispenser industry, serving manufacturers, distributors and end users throughout the janitorial/sanitation, paper, healthcare, industrial and food service markets.

Founded in 1932 as Towlsaver, Inc., Perrin Manufacturing developed the first patented paper roll towel dispenser and is an industry pioneer in the design and development of proprietary dispensers. Global Plastics, founded in 1989, is recognized as an innovative leader in dispensing technology with complementary product offerings to that of Perrin's.

The combined Perrin and Global management team, led by Chairman and CEO, Dean deBuhr, along with the operational leadership of Larry MacCormack and Matthew Friesen, brings over one hundred years of collective leadership and Fortune 500 management experience.

Mr. deBuhr views Perrin's strategic acquisition as an, "Opportunity to unite two proud heritages and industry leaders. As the largest and most advanced AFH dispenser company, our number one priority will remain providing our customers with unique and innovative dispensing solutions at the high levels of service that they have come to expect from Perrin and Global."

This partnership is backed by the resources of its majority shareholder, Kinderhook Industries. Founded in 2002, Kinderhook Industries is a middle market private equity firm that manages $470 million of committed capital. Kinderhook's commitment to generating long term growth and driving industry innovation will benefit the newly combined company.

"Over the past several years, we have expanded our product and service offerings, resulting in successful growth as a company," stated Matthew Friesen of Global Plastics Ltd. "Partnering with Perrin and Kinderhook will enhance our position in the industry, allowing us to continue to build on our foundation of developing innovative dispenser solutions."

"This union will multiply our strengths," added Mr. deBuhr. "We will continue our commitment to innovation and excellence in dispensing products that fulfill changing industry needs for uncompromising hygiene, economical solutions and environmental responsibility."