Texas-based MAG Capital Partners, LLC, has acquired a three-building, 23.3-acre industrial portfolio through a long-term, sale-leaseback-structured transaction. The recently renovated 257,622-square-foot manufacturing campus at 150 E. Longview Ave. in Mansfield, Ohio, was previously owned by Nanogate North America, which produces design-oriented, multi-functional components and surfaces for many industries, including mobility, aviation, home appliances and medical.
MAG Capital Partners’ execution of the real estate purchase was coordinated to occur shortly after Nanogate’s acquisition by Techniplas, a provider of highly engineered technical solutions to the automotive, transportation, and industrial markets. Nanogate will be rebranded and will be the sole U.S. location for Techniplas. Together, the combined company will have 25 locations worldwide employing more than 3,500 people.
Mansfield, Ohio, is located midway between Columbus and Cleveland via Interstate 71 and part of the Northeast Ohio and North-Central Ohio regions. Richland County has been a center of industrial production and technical innovation for more than a century. It is home to one of America’s most productive electric furnace steel mills, as well as metal fabrication and plastic component production that supplies U.S. and foreign automakers.
MAG Capital Partners was represented in the transaction by Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP. The seller was represented by Jonathan Wolfe and Jordan Shtulman of Stream Capital Partners.
