Sky Peak Capital Announces its Latest Partnership with the Acquisition of TriStar Plastics

Apr 29, 2025 6:30 AM Eastern Daylight Time
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BOSTON–(BUSINESS WIRE)–Sky Peak Capital, an operationally-driven investment firm focused on building long-term partnerships with founder-led, lower middle market industrial businesses, is pleased to announce its acquisition of TriStar Plastics Corp., a leading provider of engineered plastic solutions and self-lubricating bearings.

“We’re thrilled to be partnering with Mike and the Sky Peak team for TriStar’s next chapter,” said Rick Cedrone, Founder & CEO of TriStar…”Their hands-on approach and commitment to legacy made them the clear choice for us.”

Founded in 1982 by CEO Richard Cedrone and later joined by President Dave Mello, TriStar Plastics has grown into a trusted name in high-performance plastics. Headquartered in Shrewsbury, Massachusetts, the company delivers a full suite of engineering services, including component design, material selection, prototyping, and production manufacturing. Its proprietary product lines – Rulon®, Ultracomp®, CJ Bearings, and TriSteel™ – serve critical sectors such as aerospace, defense, medical, and food processing. With additional facilities in North Carolina, Illinois, and California, TriStar offers nationwide support to its growing customer base.

Sky Peak Capital specializes in partnering with family-owned and founder-led businesses in the industrial, manufacturing, value-added distribution, and business services sectors. The firm seeks to be an evergreen capital partner, focused on long-term growth and operational excellence, providing its portfolio companies with support for decades to come. With a hands-on approach, Sky Peak collaborates with management teams to drive sustainable value creation.

“We’re thrilled to be partnering with Mike and the Sky Peak team for TriStar’s next chapter,” said Rick Cedrone, Founder & CEO of TriStar. “From the beginning, Sky Peak demonstrated a founder’s mindset, prioritizing long-term stewardship and honoring the values Dave and I built into the company. Their hands-on approach and commitment to legacy made them the clear choice for us.”

“TriStar exemplifies the exact type of business we aim to partner with – founder-led, highly respected, and rooted in a culture of innovation and customer commitment,” said Mike Burke, Founder and Managing Partner of Sky Peak Capital. “We’re excited to join forces with Rick, Dave, and the entire TriStar team to build on their strong foundation and accelerate long-term growth.

“TriStar represents the second platform in our portfolio of enduring industrial partnerships. We continue to be excited about both the organic and M&A growth opportunities in our target markets, particularly with our high-quality, like-minded, and dedicated institutional capital partners behind us. We believe U.S. industrial businesses are poised for a renaissance and Sky Peak is well positioned to be at the forefront of supporting the next chapter of American dynamism.”

Jackson Walker LLP served as legal counsel to Sky Peak and CohnReznick as financial and tax advisor. Configure Partners served as exclusive financing advisor to Sky Peak with financing provided by Graycliff Partners.

About Sky Peak Capital

Sky Peak Capital is a Boston-based investment firm, focused on building partnerships in lower middle market companies within the industrial, manufacturing, value-added distribution, and business services sectors. The firm partners with founder-led businesses, aiming to be a long-term, hands-on capital partner. For more information, visit www.skypeakcap.com.

About TriStar Plastics Corp.

TriStar Plastics Corp. is a leading provider of engineered plastic solutions, specializing in high-performance plastics and self-lubricating bearing materials. With over 40 years of experience, TriStar offers comprehensive services from engineering and custom fabrication to manufacturing, serving a wide range of industries across the United States. More information is available at www.tstar.com.