Quad-C Management has sold its portfolio company Technimark, a manufacturer of rigid packaging, to Pritzker Group Private Capital. Quad-C first invested in Technimark in 2007.
Technimark manufactures rigid plastic packaging and components primarily for the consumer packaged goods, household care and specialty industrial markets. The company has nine facilities located in the United States, Mexico, Germany and China. Technimark was founded in 1983 and is headquartered in Asheboro, NC (www.technimark.com).
“When we invested in Technimark, we saw a company with innovative products and technologies, a loyal customer base and a highly experienced management team. We worked with management to develop a long-term plan to leverage these strengths and accelerate the company’s growth by investing heavily in sales and marketing, R&D and global capacity. Management’s superb execution over the past six and a half years resulted in over 120% revenue growth — far outpacing overall industry growth,” said Frank Winslow, partner, Quad-C.
Quad-C is a middle market private equity firm that invests from $35 million to $125 million of equity in companies with enterprise values of $75 million to $400 million. Sectors of interest include business services, consumer, general industrial, healthcare, specialty distribution and transportation/logistics. The firm is currently investing Quad-C VIII, a $700 million fund raised in 2012. Quad-C was founded in 1989 and in its 25-year history has invested over $2 billion of equity across more than 50 companies. The firm is headquartered in Charlottesville, VA (www.quadcmanagement.com).
“Quad-C’s deep investment experience and corporate development approach was instrumental in executing our growth plans,” said Brad Wellington, President and CEO of Technimark. “We enjoyed working with them and credit a large part of our success to the partnership. The experience and strategic guidance that they provided to us ultimately led to strong growth opportunities and we’d like to thank them for their support and confidence in us over the years.”
The Technimark investment is one of many general industrial investments in Quad-C’s twenty-five year history. Other representative investments in the sector include Interwap, a manufacturer of roofing underlayment and packaging, and Royal Adhesives & Sealants, a manufacturer of commercial and industrial adhesives and sealants.
“We were fortunate to have collaborated with Don and Brad Wellington and the rest of the management team at Technimark,” said Steve Burns, senior partner, Quad-C. “Since 2007, due to continuous and substantial investments and the resultant rapid growth of the business, a significant number of jobs were created. It is always gratifying when this dovetails with substantial value creation. We are confident the company will flourish under its new ownership and wish the team continued success.”
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-28-14
