CenterGate Capital has acquired United Envelope, one of the largest envelope manufacturing and printing companies in North America, from Palm Beach Capital.
United specializes in manufacturing and printing direct mail and transactional envelopes – it prints billions of envelopes each year – for its customers that are active in financial services, non-profit, healthcare, and government end markets.
“We are proud of the success that United Envelope has achieved in becoming a world-class envelope manufacturer over our 89-year history,” said Mr. Bernstein. “We are excited about our partnership with CenterGate and believe CenterGate will provide the resources and capabilities necessary to continue the Company’s growth, expand our capabilities, and maintain our relentless focus on serving our customers.”
“Ken and the United team have built a modern, efficient organization delivering the highest levels of customer satisfaction in the industry,” said Michael Smith, a managing director at CenterGate. “We are pleased to partner with Ken and the United team, continue their success, and support their vision for the future.”
Austin-based CenterGate invests in lower middle-market companies that have from $20 million to $250 million of revenue and up to $20 million of EBITDA. Sectors of interest include business services, industrials, energy services, consumer, and healthcare. In December 2016, the firm held an above target and oversubscribed final closing of CenterGate Capital Partners I LP with $350 million of capital commitments.
CIBC Cleary Gull was the financial advisor to United Envelope on this transaction.
© 2022 Private Equity Professional | July 19, 2022
