Sentinel Capital Partners has acquired Nekoosa, a manufacturer of specialty paper and film products used in the graphics and commercial print markets, from Wingate Partners.
Nekoosa’s production capabilities includes coating, converting, and custom plastic extrusion. The company’s products are sold under the Nekoosa Coated Products, RTape, CET Films, and ClingZ brands and includes application and pressure sensitive tapes; specialty synthetic papers; sheeted digital and offset grade carbonless paper; and extruded film. The company’s products are sold through a network of more than 1,000 global distributors to more than 70,000 commercial print and graphics shops in 65 countries. Nekoosa is headquartered in Nekoosa, WI (www.nekoosa.com).
“Wingate has been an exceptional partner. They have brought a wealth of experience and a low-ego, highly approachable style that fits our business culture well and resulted in a very strong partnership,” said Paul Charapata, Nekoosa’s CEO.
Wingate partnered with the Nekoosa management team to acquire the business in October 2012. During the subsequent five years, Nekoosa completed four add-on acquisitions that diversified its product mix. “Prior to our investment, Nekoosa was largely a carbonless paper business with a vital base of commercial print merchant partners,” said Brian Steinbrueck, a Partner at Wingate. “CEO Paul Charapata and his team have transformed the business into a more diversified, higher performing company with a broader merchant base across graphics and commercial print channels. They have created a truly unique business with a differentiated product offering and have a bright future ahead.”
Wingate Partners makes control equity investments in manufacturing, distribution and service businesses, typically with revenues between $50 million and $250 million and EBITDA between $5 million and $25 million. The firm was founded in 1987 and is headquartered in Dallas (www.wingatepartners.com).
Sentinel Capital Partners, the buyer of Nekoosa, invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of businesses with EBITDAs up to $65 million. Sentinel targets eight industry sectors: aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare services, and industrials. The firm is headquartered in New York (www.sentinelpartners.com).
“Nekoosa gives Sentinel an opportunity to partner with a differentiated industry leader that draws on a unique, niche product offering that is considered the ‘gold standard’ in its markets,” said Scott Perry, a Partner at Sentinel. “Nekoosa has enhanced its leadership position through its highly-specialized operational expertise, unparalleled distribution network, and excellent corporate culture committed to developing a first-class employee base. We are thrilled to partner with Nekoosa’s highly talented and committed management team.”
© 2017 Private Equity Professional | November 2, 2017
