Eureka Equity Partners has sold Jansy Packaging to Berlin Packaging, a portfolio company of Oak Hill Capital Partners and the Canada Pension Plan Investment Board. Oak Hill acquired Berlin Packaging from Investcorp in October 2014 for $1.4 billion.
Jansy Packaging is a provider of outsourced specialty packaging services to branded consumer products companies across several consumer categories with a specialization in the health and beauty sectors. The company’s capabilities include design, engineering, manufacturing, and production.
Jansy, founded in 2004 and led by CEO Brad Zaikov, is headquartered near New York City in Englewood Cliffs, New Jersey, with additional facilities in California, Illinois and China. Eureka Equity acquired Jansy in November 2014.
“I was very selective about who Jansy’s first private equity partner was going to be when I decided to team up with Eureka,” said Mr. Zaikov. “We had several options at the time and from the moment of our first meeting I knew Eureka was the right fit. Looking back over the past seven years and reflecting on what we’ve built, there is no question that Jansy and the senior management team made the right decision. I can’t thank the Eureka team enough for their hard work and dedication to Jansy and for bringing together the combination of Berlin Packaging and Jansy.”
Berlin Packaging is a supplier of glass, plastic, and metal containers and closures. The company’s services include structural and brand design, sourcing, warehousing and logistics, and capital financing. Berlin has more than 50,000 SKUs and supplies billions of containers and closures annually as well as warehousing and logistics services for customers of all sizes in all industries. Chicago-headquartered Berlin was formed in 1988 by Andrew Berlin through the acquisition of Alco Packaging, a longtime Chicago-based container company. Alco’s roots trace back to 1898 when Riekes Container was founded. Riekes was purchased by Alco Packaging in 1975.
“It was a true pleasure to partner with Brad Zaikov to carve Jansy out from its holding company and build the team and infrastructure that facilitated the differentiation of Jansy as an innovative packaging solutions provider to its valued brand-owner customers, and to provide a strong return for our investors and management partners,” said Chris Miller, a partner at Eureka. “Working with Brad, we closed four add-on acquisitions into Jansy during our ownership, and Brad and his team executed on specific initiatives that allowed Jansy to continue its growth through the global pandemic and a historically challenging global supply chain.”
Philadelphia-based Eureka Equity makes control and non-control investments in companies with up to $100 million in revenue. Initial equity investments range from $10 million to $25 million but larger investments can be made with co-investment from the firm’s limited partners. Sectors of interest include business services, health care services, specialty manufacturing and consumer products.
Oak Hill is an active investor in the consumer retail and distribution; industrials; media and communications; and services sectors. The firm, which began its investment activities in 1986 as the family office of Robert M. Bass, has offices in New York City, Menlo Park, and Stamford.
Canada Pension Plan Investment Board invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure, and fixed income instruments. CPPIB is headquartered in Toronto, with offices in London, Hong Kong, New York, Hong Kong, Sydney, Sao Paulo, Mumbai, and Luxembourg.
BlackArch Partners was the financial advisor to Eureka and Jansy on this transaction.
© 2022 Private Equity Professional | August 2, 2022
