PTi founders regain controlling interest in extruder maker
Dana Hanson and Jon Roberts, the founders of Processing Technologies International LLC, have repurchased 100 percent ownership of the sheet extrusion machinery maker from private equity firm Crystal Ridge Partners. Hanson, president and CEO, and Roberts, senior vice president of operations, purchased the outstanding majority stake on Dec. 2. Hanson said they regained full ownership and in-house control of the Aurora-based company. Terms were not disclosed. Crystal Ridge Partners of Maplewood, N.J., bought a majority stake in PTi in 2005. At the time, Hanson and Roberts continued to own 35 percent. The repurchase was completed without any debt leveraging by PTi.