Fortis Solutio
ns Group, a portfolio company of Main Post Partners, has acquired Label Technology Inc.
Label Technology is a printer of flexible packaging, stand-up pouches, and pressure sensitive labels used in the food, natural products, nutraceutical, cosmetic and health and beauty end markets. The company, led by CEO Dave Bankson, was founded in 1986 and became 100% employee-owned through an ESOP in 2007.
Label Technology, with annual revenues of approximately $40 million, has 125 employees and 150,000 sq. ft. of manufacturing and warehouse facilities in Merced, CA (www.labeltech.com).
Fortis Solutions, acquired by Main Post in December 2017, provides labeling and packaging – including pressure sensitive and shrink sleeve labels, multi-ply coupon and flexible packaging printing, extended booklet printing, folding cartons, label applicators and variable data printing – to companies active in the consumer-packaged goods sector. Fortis has eleven manufacturing and sales offices across Texas, Oklahoma, Connecticut, Georgia, North Carolina, Missouri, Tennessee, Ohio and Michigan. The company, led by CEO John Wynne, Jr., is headquartered in Virginia Beach, VA (www.fortissolutionsgroup.com).
“Label Technology is an ideal fit within Fortis as the acquisition creates a true national footprint for our organization while broadening our product offerings across multiple vertical markets,” said Mr. Wynne. “I am incredibly impressed with the technical savvy and operational and sales prowess of the company and look forward to working alongside Dave Bankson and the entire Label Technology team.”
With the buy of Label Technology, Fortis Solutions now has more than 700 employees. The company continues to seek add-on acquisitions that expand its product lines and geographic reach.
Earlier this year, Fortis Solutions acquired Lewisville, TX-Infinite Packaging Group from Svoboda Capital. Infinite is a provider of pressure-sensitive labels, shrink sleeves, and pouches to companies operating in the consumer products, retail, food and beverage, nutraceuticals and health and beauty sectors.
Main Post makes both control and non-control investments in middle market growth companies in the consumer, business services and industrial growth sectors. The firm was founded in April 2014 by managing partners Sean Honey and Jeffrey Mills, both former partners at Weston Presidio. Main Post is headquartered in San Francisco (www.mainpostpartners.com).
In November 2018, Main Post held a final closing of its second fund, Main Post Growth Capital II LP, with $700 million of capital commitments. The new fund was oversubscribed and closed at its hard cap less than three months after the launch of fundraising.
© 2019 Private Equity Professional | June 6, 2019
