Platinum Buys WS Packaging
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Platinum Buys WS Packaging

WS Packaging Group, a provider of labels and packaging, has been acquired by Platinum Equity. WS Packaging has been a portfolio company of J.W. Childs since 2006.

WS Packaging is one of the largest domestic pressure sensitive label manufacturers. The company prints a range of pressure sensitive labels (more than 45 billion every year) for more than 10,000 customers in the food, beverage, personal care, household, commercial, promotional, industrial, direct mail, and pharmaceutical markets. The company also manufactures complementary products such as label application equipment and provides services including commercial printing, foil stamping, and promotional packaging.

WS Packaging operates 17 manufacturing facilities and is headquartered in Green Bay, WI (www.wspackaging.com).

“WS Packaging Group has great potential, and we look forward to working closely with the company’s management team, customers, suppliers, and other stakeholders,” said Platinum Equity Principal Jason Price. “We believe it will benefit from our operational resources and our ability to help identify and pursue new avenues for growth.”

Platinum Equity invests in a range of industries including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, and telecommunications. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion buyout fund which closed in March 2017. Platinum Equity has completed more than 200 acquisitions since its founding in 1995. The firm is based in Beverly Hills with additional offices in New York and London (www.platinumequity.com).

WS Packaging CEO Dean Wimer is remaining with the company to lead the business under Platinum ownership. “We thank the team at J.W. Childs for the guidance and support of the business under its ownership. We’re excited to work with Platinum Equity, who brings a fresh perspective, with new energy and focus to the table,” said Mr. Wimer. “They know our industry well and have the operational and financial resources we need to help maximize our company’s potential.”

Platinum Equity has invested in the packaging sector before and sold Mactac, one of WS Packaging’s suppliers of pressure sensitive materials, to LINTEC Corporation in December 2016. Platinum acquired Mactac from Bemis Company in November 2014.

“We have enjoyed our close partnership with WS Packaging Group,” said David Fiorentino, a Partner at J.W. Childs. “The company has made meaningful investments in new technology, has dedicated employees and deep customer relationships. We wish Platinum, the WS Packaging Group management team and all WS Packaging Group employees well with the business.”

J.W. Childs invests in middle market companies based in North America. Sectors of interest include consumer products, specialty retail and healthcare. The firm was founded in 1995 and is based in the Boston suburb of Waltham, MA (www.jwchilds.com).

Barclays was the financial advisor to WS Packaging Group.

© 2018 Private Equity Professional | February 7, 2018

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