Sun Capital Combines Packaging Portfolio Companies

Sun Capital Partners will combine five of its portfolio companies under a new platform holding company called Exopack Holdings. The combined business will have 63 plants, 8,650 employees and total revenues of more than $2.5 billion, making it the sixth-largest plastics packaging company in the world.

“This combination represents a natural next step in a process that began eight years ago to create a global packaging company with a solid foundation for future growth,” said Marc Leder, co-CEO of Sun Capital Partners. “Building on past collaborations between the companies, the combination will immediately achieve synergies and allow the Exopack Holdings to more effectively pursue global business.”

The five companies now under the Exopack Holdings umbrella are as follows:

1. Exopack is a producer of flexible paper and plastic packaging, and advanced coatings. The company was acquired by Sun in July 2005 and is based in Spartanburg, SC (www.exopack.com).
2. Britton Group is a flexible plastic packaging manufacturer. The company was acquired by Sun in April 2011 and is based in Winsford, UK (www.brittongroup.com).
3. PACCOR is a provider of rigid plastic packaging products. The company was acquired by Sun in December 2010 and is based in Zell, Germany (www.paccor.com).
4. Kobusch is a producer of flexible and rigid packaging systems. The company was acquired by Sun in December 2011 and is based in Warburg, Germany (www.kobusch.com).
5. Paragon Print & Packaging is a provider of private label packaging products. The company was acquired by Sun in December 2012 and is based in Lincolnshire, UK (www.paragonprintandpackaging.com).

Exopack Holdings will be led by Jack Knott, who will serve as the company’s Chief Executive Officer, and Mike Alger who will serve as Chief Financial Officer.

“By joining together to form this new entity, we will be better able to serve the needs of our global customers through a manufacturing base spanning North America, Europe, the Middle East and China that enhances our ability to deliver outstanding service,” said Mr. Knott. “The larger scale will enable us to accelerate the development and commercialization of new and differentiated products that offer our customers a competitive advantage.”

Sun Capital Partners is a private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in-house operating professionals and experience. Sun Capital has invested in and managed more than 315 companies worldwide with combined sales in excess of $45 billion since the firm’s inception in 1995. The firm has offices in Boca Raton, Los Angeles, and New York as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen (www.SunCapPart.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 5-2-13