labels

Brook & Whittle, a label making portfolio company of Snow Phipps, has acquired Label Impressions. Snow Phipps acquired Brook & Whittle in October 2017 from RFE Investment Partners and Charter Oak Equity.

Label Impressions is a producer of labels used in the household and personal care, beverage, cosmetics, nutraceuticals, food, and cannabis markets. The company’s products include flexographic labels, foil stamped labels, screen printed labels, FSC (Forest Stewardship Council) certified labels, biodegradable labels, hangtags, pouches, sachets, and packets.

Label Impressions was founded in 1988 by Ted Salisbury and has been led by his son, Jeff Salisbury (the company’s sole owner), since 2005. Jeff Salisbury will join the Brook & Whittle team and continue to be a shareholder. “We have a strong history of consistent quality, technical expertise and innovation,” said Mr. Salisbury. “This partnership will further enhance our value proposition to customers, and we are excited to bring our insights to the Brook & Whittle team.”

“Jeff has driven remarkable growth at Label Impressions over the last 15 years, and we are extremely excited for him to join our team. He will be a strong asset in continuing our successful innovation strategies, and I look forward to working with him in further expanding our offerings to better serve our customers,” said Mark Pollard, CEO of Brook & Whittle.

Brook & Whittle is a provider of pressure-sensitive labels, shrink labels and medical packaging. The company’s capabilities include UV flexographic, rotogravure and digital label making. The company, founded in 1996, is headquartered in North Branford, Connecticut and operates seven production facilities in Connecticut (2), New York, Pennsylvania, Missouri, Tennessee and, with the buy of Label Impressions, California.

“We are pleased to have the opportunity to partner with Label Impressions and are enthusiastic about our future together,” said Don Sturdivant, the chairman of Brook & Whittle and an operating partner at Snow Phipps.  “Label Impressions’ California facility will allow us to more effectively serve and manage our growing customer base.”

The buy of Label Impressions is the third add-on acquisition by Brook & Whittle under Snow Phipps’ ownership. The two earlier buys were Prime Package & Label in November 2018 and the buy of a label converting facility in Croydon, Pennsylvania in May 2020.

New York City-based Snow Phipps makes control investments in companies primarily located in North America with enterprise values ranging from $100 million to $500 million that require equity investments ranging from $50 million to $150 million. Sectors of interest include industrials, services, and consumer. The firm was co-founded by Ian Snow and Ogden Phipps in April 2005.

Private Equity Professional | June 19, 2020

Publicly-traded Multi-Color Corporation (NASDAQ: LABL) has agreed to be acquired by Platinum Equity at an enterprise value of $2.5 billion. The valuation multiple for this transaction is shown below.

Multi-Color Corporation (MCC) is one of the largest label companies in the world. The company’s labels are used by a range of national and international brands in the home and personal care, wine and spirits, food and beverage, healthcare and specialty consumer sectors. MCC has more than 8,400 employees, 71 label producing operations in 26 countries, and is headquartered in Cincinnati (www.mcclabel.com).For the 12 months ending December 31, 2018, MCC had revenues of $1.7 billion and EBITDA of $272 million. At an enterprise value of $2.5 billion this results in an EBITDA valuation multiple of 9.2x.

“Multi-Color Corporation is an industry leader, with a talented and dedicated team and a reputation for innovative label solutions and best-in-class service,” said Louis Samson, a partner at Platinum Equity. “We have tremendous respect for Multi-Color Corporation, and believe that its capabilities and established position in the industry, when combined with our portfolio company WS Packaging Group, operational expertise and financial resources, will enable Multi-Color Corporation and WS Packaging Group to strengthen the value proposition for their customers.”

In February 2018, Platinum acquired WS Packaging Group, one of the largest domestic pressure sensitive label manufacturers, from J.W. Childs. WS Packaging’s products are used by 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).

The buy of MCC will be financed through a combination of equity from Platinum Capital Partners IV LP, a $6.5 billion buyout fund which closed in March 2017, and debt financing from Bank of America Merrill Lynch, and Deutsche Bank.

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 has completed more than 250 acquisitions since its founding in 1995 and is headquartered in Beverly Hills (www.platinumequity.com).

Goldman Sachs & Co. is the financial advisor to Multi-Color Corporation.

Closing of this transaction is expected by the end of the third quarter.

© 2019 Private Equity Professional | February 26, 2019

Resource Label Group, a portfolio company of First Atlantic Capital and TPG Growth, has acquired Best Label Company. Resource Label was acquired by First Atlantic in April 2011 and TPG Growth invested in the company in May 2018.

Best Label is a maker of pressure sensitive, extended content and promotional labels used in the food, beverage, health and beauty, pharmaceutical, automotive, agricultural and chemical industries.

The company has facilities in Cerritos, CA (headquarters) and Union City, CA and considers itself to be one of the largest label manufacturers on the west coast (www.bestlabel.com).

Resource Label Group (RLG) is a manufacturer of pressure sensitive labels, shrink sleeves, radio-frequency identification (RFID) and near field communication (NFC) products. The company’s labeling products are used by more than 6,000 customers in the food, beverage, chemical, household products, personal care, nutraceutical, pharmaceutical, medical device, and technology industries. RLG has eighteen locations and more than 1,300 employees in the US and Canada. The company is headquartered in Franklin, TN (www.resourcelabel.com).

“I am honored that Best Label has joined the Resource Label Group team.  Best Label brings a group of talented individuals, a high level of product quality and innovative packaging solutions to our organization,” said Mike Apperson, President & CEO of Resource Label Group. “I look forward to working closely with the team to continue to serve our growing customer base across North America.”

“Best Label has an outstanding group of dedicated employees, diverse client base, and is a valued addition to Resource Label Group,” said Roberto Buaron, Chairman and CEO First Atlantic Capital. “We are pleased to continue to support Resource Label’s expansion.” Earlier this month, RLG acquired Spectrum Label, a Hayward, CA-based supplier of pressure sensitive labels used in the food, medical and pharmaceutical sectors (www.spectrumlabel.com).

Resource Label has grown both organically and through a series of 16 add-on acquisitions as follows: Mid South RFID (acquired September 2007) (Franklin, TN); Pamco Label (July 2011) (Chicago, IL); Fox Tag and Label (July 2011) (Providence, RI); Oxford Graphics (March 2014) (Boston, MA); The Label Company (October 2014) (Los Angeles, CA); A1 Label (December 2014) (Toronto, ON); Taylor Made Labels (October 2015) (Portland, OR); LithoFlexo Grafics (February 2016) (Salt Lake City, UT); Advanced Labels NW (November 2016) (Seattle, WA); RayPress Corporation (December 2016) (Birmingham, AL); Cellotape/Landmark Label ( March 2017)(Newark, CA); Gintzler International (March 2017) (Buffalo, NY and Liberty Hill, TX); Ingenious Packaging (July 2018) (Toronto, ON); Paragon Label (August 2018) (Petaluma, CA); Spectrum Label (November 2018) (Hayward, CA) and the latest add-on acquisition, Best Label.

First Atlantic invests in middle-market companies that are active in the plastics and packaging, food and beverage, consumer and industrial products, and business services sectors. Since its inception in 1989, First Atlantic has acquired 70 companies and consolidated them into 22 major platforms. The firm is based in New York (www.firstatlanticcapital.com).

TPG Growth is the middle market and growth equity investment platform of TPG which was founded in 1992 and makes investments throughout North America, Europe, Asia and Australia.  Sectors of interest include industrials, retail, consumer, financial services, travel and entertainment, technology, media and communications, and healthcare. In December 2017, TPG Growth held a final closing of its fourth fund, TPG Growth IV LP, at its hard cap of $3.7 billion in commitments. The firm has offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, São Paulo, Shanghai, Singapore and Tokyo (www.tpg.com) (www.tpggrowth.com).

© 2018 Private Equity Professional | November 16, 2018

Resource Label Group, a portfolio company of First Atlantic Capital and TPG Growth, has acquired Paragon Label, a supplier of labels to the premium wine segment.

Paragon Label specializes in printing high quality, pressure-sensitive labels for wineries based in the Sonoma and Napa counties of California. The company also provides labels to the food, health and beauty industry.

Paragon Label was founded in 1998 and is based in Petaluma, CA (www.paragonlabel.com).

“Continued leadership in the wine segment of the label industry is an important focus for Resource Label and we are confident that the acquisition of Paragon will help us meet that objective,” said Roberto Buaron, Chairman and CEO of First Atlantic Capital.

Resource Label is a manufacturer of pressure sensitive labels, shrink sleeves, radio-frequency identification (RFID) and near field communication (NFC) products. The company’s labeling products are used by more than 6,000 customers in the food, beverage, chemical, household products, personal care, nutraceutical, pharmaceutical, medical device, and technology industries. Resource Label has fifteen locations and has more than 1,150 employees in the US and Canada. The company, led by CEO Bob Simko, is headquartered in Franklin, TN (www.resourcelabel.com).

“We admire the strength of Paragon’s customer relationships and cutting-edge technology and look forward to supporting the company as it builds on that foundation for future success,” said Ransom Langford, a Partner at TPG Growth.

Resource Label was acquired by First Atlantic in April 2011 and TPG Growth invested in the company in May 2018. The company has grown both organically and through a series of 13 add-on acquisitions as follows: Mid South RFID (acquired September 2007) (Franklin, TN); Paragon Label (July 2011) (Chicago, IL); Fox Tag and Label (July 2011) (Providence, RI); Oxford Graphics (March 2014) (Boston, MA); The Label Company (October 2014) (Los Angeles, CA); A1 Label (December 2014) (Toronto, ON); Taylor Made Labels (October 2015) (Portland, OR); LithoFlexo Grafics (February 2016) (Salt Lake City, UT); Advanced Labels NW (November 2016) (Seattle, WA); RayPress Corporation (December 2016) (Birmingham, AL); Cellotape/Landmark Label ( March 2017)(Newark, CA); Gintzler International (March 2017) (Buffalo, NY and Liberty Hill, TX); and Ingenious Packaging (July 2018) (Toronto, ON).

“Paragon is strategically located in the heart of the California wine region, has a state-of-the-art facility and talented work force, and will be a tremendous addition to Resource Label,” said Emilio Pedroni, a Managing Director at First Atlantic Capital.

First Atlantic invests in middle-market companies that are active in the plastics and packaging, food and beverage, consumer and industrial products, and business services sectors. Since its inception in 1989, First Atlantic has acquired 70 companies and consolidated them into 22 major platforms. The firm is based in New York (www.firstatlanticcapital.com).

TPG Growth is the middle market and growth equity investment platform of TPG which was founded in 1992 and makes investments throughout North America, Europe, Asia and Australia.  Sectors of interest include industrials, retail, consumer, financial services, travel and entertainment, technology, media and communications, and healthcare. In December 2017, TPG Growth held a final closing of its fourth fund, TPG Growth IV LP, at its hard cap of $3.7 billion in commitments. The firm has offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, São Paulo, Shanghai, Singapore and Tokyo (www.tpg.com) (www.tpggrowth.com).

© 2018 Private Equity Professional | August 16, 2018

Fortis Solutions Group, a portfolio company of Main Post Partners since December 2017, has acquired Lewis Label Products.

Lewis Label is a manufacturer of pressure sensitive labels, shrink sleeves and flexible packaging products. The company’s customers are active in the food and beverage; automotive; wine and spirits; industrial and manufacturing; health and beauty; advertising and promotional; and nutraceuticals sectors.

Lewis Label, led by CEO Gib Lewis, was founded in 1964 and is headquartered in Fort Worth, TX (www.lewislabel.com).

Fortis Solutions Group provides labeling and packaging – including pressure sensitive and shrink sleeve labels, booklet printing, variable data printing, multi-ply coupon printing and flexible packaging printing – to companies active in the consumer packaged goods sector. Fortis has manufacturing and sales offices in Ellington, CT; Fort Worth, TX; High Point, NC; Kansas City, MO; Memphis, TN; West Chester, OH; and Wixom, MI. The company, founded in 1979, has 400 employees and is headquartered in Virginia Beach, VA (www.fortissolutionsgroup.com).

“We are extremely excited to acquire such a terrific company. Gib Lewis and his team have established themselves as one of the top converters in the Southwest,” said John Wynne, Fortis President and CEO. “Lewis Label increases our presence in the food and beverage end markets while also expanding Fortis into the nutraceutical sector. This acquisition bolsters our product offerings to include shrink sleeves and allows us to broaden our flexible packaging and pressure sensitive labeling capabilities.”

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. In March 2016, the firm held a final above target closing of its inaugural fund, Main Post Growth Capital LP, with a total of $400 million in limited partner commitments, well in excess of its initial target of $250 million. Main Post is headquartered in San Francisco (www.mainpostpartners.com).

© 2018 Private Equity Professional | July 13, 2018