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Shore Points Sells Loftware to Riverside Partners

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loftware nf1Shore Points Capital has completed the sale of its investment in Loftware through a recapitalization of the company led by Riverside Partners. Shore Points acquired Loftware in January 2005.

Loftware is a labeling services provider that works with over 5,000 customers, across 25 major industries to meet their customer-specific, geographical and regulatory labeling requirements. The company’s software integrates SAP®, Oracle® and other enterprise applications to produce barcode labels, documents, and RFID Smart tags across the supply chain.  Loftware is headquartered in Portsmouth, NH with additional offices in the UK, Germany, and Singapore (www.loftware.com).

Shore Points was the lead investor in Loftware for over nine years, a period in which the company has become the leading international provider of enterprise level software for supply chain labeling applications.  Over the past few years, Loftware has logged accelerated global market penetration, record sales and profitability.

ed irwin nf3“Loftware has been a great investment for us, and we are proud of everything the company has accomplished under our watch,” said Ed Irwin, Managing Partner of Shore Points. “The management team, led by Bob O’Connor, has flawlessly executed its strategy and has positioned the company for continued growth and success. We are pleased that a group as accomplished as Riverside has recognized the value of Loftware and will be leading the company as it looks to even greater success in the future.”

Shore Points Capital makes equity investments in lower middle market businesses with enterprise values from $15 million to $75 million and EBITDAs of $2 million to $15 million. The firm has experience investing across a variety of industries, with a particular emphasis on business-to-business/enterprise software companies. Until 2006, the principals of Shore Points Capital operated as the North American private equity arm of BNP Paribas. The firm is based in New York (www.shorepointscapital.com).

“Loftware has been very fortunate to be majority-owned by Shore Points Capital for nearly ten years,” said Bob O’Connor, Loftware’s President and CEO. “Their leadership and steady guidance have been instrumental in the growth and transformation of Loftware into the market leader in the enterprise labeling space. The management team and other investors could not have asked for a more supportive financial sponsor.”

Shore Points and the other Loftware investors, including Greyrock Capital Group and Eric Anderson, were represented in the sale by the investment bank Signal Hill and the law firm of Golenbock Eiseman Assor Bell & Peskoe in association with Bernstein Shur.

2014 PEPD • Private Equity’s Leading News Magazine • 7-31-14

Field Ventures Acquires Label Arts

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label arts nfField Ventures has acquired Label Arts, a provider of labels used in the medical industry.

Label Arts produces chemical resistant labels that are used in harsh laboratory environments. The company also provides its customers with a range of label products, from paper labels to value-added labels manufactured to comply with stringent medical industry standards. Label Arts was founded in 1975 and is based in Kemp, TX (www.labelarts.com).

Field Ventures was founded by packaging industry executive Larry Field, the former owner and CEO of Field Container Company, an integrated folding carton company, until its acquisition by Altivity Packaging in 2006. The firm is based in Northbrook, IL (www.fieldholdings.com).

Blaige & Company (www.blaige.com), a Chicago-based investment bank exclusively dedicated to the packaging, plastics and chemicals industries, advised Label Arts on the transaction.

“Blaige & Company research estimates that 52% of the top 50 U.S. label converters have merged or been sold since 2001 due to a long-term consolidation trend. Label converters with less than $250 million in sales are gradually losing market share to their stronger competitors and must consider aggressive M&A strategies, including strategic acquisitions and selective divestitures, in order to maintain a competitive position in a consolidating industry. Field Holdings will continue to focus on the future growth and success of Label Arts.”

© 2013 PEPD • Private Equity’s Leading News Magazine • 10-9-13

Svoboda Capital Partners Acquires TVC Label

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tvc label nfMEI Labels, a portfolio company of Svoboda Capital Partners, has acquired the assets of TVC Label, Inc. and TVC One, Inc. (TVC). The management of TVC will continue to operate and own a significant portion of the business.

TVC is a manufacturer and provider of print, label and packaging products for customers in the health & beauty, consumer goods and pet care markets. The company was founded in 1993 and is headquartered in Lewisville, TX (www.tvcone.com).

MEI, acquired by Svoboda Capital in December 2012, is a provider of pressure sensitive label products, inserts, tags, banners, and other products, including silk screening and embroidery. The company was founded in 1996 and is based in Catoosa, OK (www.meilabels.com).

“MEI is very excited about the prospect of partnering with TVC. TVC’s management team and their employees have built an impressive enterprise focused on client service and top quality products, aligning well with MEI’s philosophy,” said Lynn Higgs, MEI Labels’ CEO. “This strategic transaction will undoubtedly accelerate the company’s expansion into new products and new end markets.”

Svoboda Capital Partners has over $300 million of capital under management and invests from $10 million to $25 million in value-added distribution and business services companies that have revenues from $10 million to $100 million and EBITDAs from $3 million to $15 million. The firm was founded in 1998 and is based in Chicago (www.svoco.com).

“The combination of MEI and TVC is very compelling given their complementary attributes,” said Jeff Piper, Principal at Svoboda Capital Partners. “We look forward to continue working with the company to execute on its organic and acquisitive growth objectives.”

The Commercial Banking Group of Wintrust Financial Corporation provided senior debt to complete the transaction. The Investment Banking division of Mesirow Financial acted as the exclusive financial advisor to TVC.

© 2013 PEPD • Private Equity’s Leading News Magazine • 7-31-13

KRG Capital Partners Acquires AC Label

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Fort Dearborn Company, a diversified supplier of labels and a portfolio company of KRG Capital Partners, has acquired AC Label, a maker of labels for craft beer, liquor and food bottles.

AC Label is a supplier of specialty cut & stack and pressure sensitive labels primarily for the beverage, nutraceutical and spirits markets. The company has 200 employees and three operating divisions in Louisville, KY; Provo, UT; and St Louis, MO (www.aclabel.com).

This is the second add-on acquisition completed by KRG since acquiring Fort Dearborn in August 2010. In March 2013, Fort Dearborn acquired FetterGroup’s paint & coating labels business, one of the largest label providers to the paint and coatings industry. The business is based in Louisville, KY.

Fort Dearborn is a supplier of high-impact decorative labels for the beverage, food, household products, paint and coatings, personal care, private label/retail and spirits markets. The company provides cut & stack, pressure sensitive, roll-fed and shrink sleeve labels across multiple print technologies including digital, flexographic, offset lithographic and rotogravure. Headquartered in Elk Grove, IL the company has ten operating divisions in North America and approximately 1,200 employees (www.fortdearborn.com).

KRG specializes in acquiring and recapitalizing unique and profitable middle-market companies. Since inception, KRG has invested in 45 platform companies and has completed 135 add-on acquisitions for those platforms. Founded in 1996, KRG has over $4 billion of capital under management and is based in Denver (www.krgcapital.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 6-19-13

KRG Capital Acquires FetterGroup’s Paint & Coatings Label Business

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Fort Dearborn Company, a supplier of cut & stack, pressure sensitive, roll-fed and shrink sleeve labels, and a portfolio company of KRG Capital Partners, has completed the acquisition of FetterGroup’s paint & coating labels business.

KRG made its initial investment in Fort Dearborn Company in August 2010 and the acquisition of FetterGroup’s paint & coatings label business represents the 179th investment for KRG since its inception.

Fetter’s paint & coating labels business is one of the largest label providers to the paint and coatings industry. The business is based in Louisville, KY (www.fettergroup/paint).

Fort Dearborn Company is a supplier of high-impact decorative labels for the beverage, food, household products, nutraceutical, paint and coatings, personal care, private label/retail and spirits markets. The company provides cut & stack, pressure sensitive, roll-fed and shrink sleeve labels across multiple print technologies including digital, flexographic, offset lithographic and rotogravure. Headquartered in Elk Grove, IL the company has ten operating divisions in North America and approximately 1,200 employees (www.fortdearborn.com).

KRG specializes in acquiring and recapitalizing unique and profitable middle-market companies. Since inception, KRG has invested in 45 platform companies and has completed 134 add-on acquisitions for those platforms. Founded in 1996, KRG has over $4 billion of capital under management and is based in Denver (www.krgcapital.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 3-5-13

H.I.G. Europe Acquires ARMetallizing and Vacumet Paper

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H.I.G. Europe has completed the simultaneous acquisitions of ARMetallizing, a Belgium based manufacturer of metalized paper from Ackermans & van Haaren, and Vacumet Paper, a Massachusetts based manufacturer of metalized paper from Scholle Corporation.

The combination of ARMetallizing (ARM) and Vacumet Paper will be a global market leader in metalized paper for use in the beverage and consumer packaged goods markets. The group’s metalized paper is currently used as the base paper in beer labels, spirit labels, food packaging, consumer product packaging and gift wrap, and can be found on many household brands such as Becks beer, Lurpak butter in Europe, and Coors Light and Hasbro in the US. With revenues in excess of €120 million, the group will supply clients globally from 3 manufacturing facilities in Belgium, Italy and the US (www.armetallizing.com) (www.vacumet.com).

“The simultaneous acquisitions of ARM & Vacumet reinforces H.I.G.’s ability to execute on complex transatlantic transactions. Over the coming years, Paul and his team will leverage H.I.G.’s presence across Europe, the US and South America to grow the business organically and through bolt-on acquisitions,” said Dr. Matthias Allgaier, Managing Director of H.I.G. Europe.

The combined company will be led by ARM’s CEO, Paul Van Emmerick and CFO, Martin Raeymakers, who will both retain a significant shareholding in the business. “We are very pleased to have completed the MBO of ARM and the simultaneous acquisition of Vacumet Paper with H.I.G. Europe. With H.I.G.’s backing, we have already taken a major step in being able to supply our customers’ global packaging needs,” said Mr. Van Emmerick.

H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. Since its founding, H.I.G. has invested in and managed more than 200 companies and the firm’s current portfolio includes companies with combined revenues in excess of $8 billion. H.I.G. Capital has more than $8.5 billion of equity capital under management and is based in Miami, FL and has other offices in Atlanta, GA; Boston, MA; San Francisco, CA; London, UK; Rio de Janeiro, Brazil; Hamburg, Germany; and Paris, France (www.higcapital.com).

“Paul and his team have done an outstanding job building ARM into the #1 player in Europe; through the acquisition of Vacumet, we have now created the global market leader in a niche segment of consumer packaging. We look forward to supporting Paul and Martin in expanding ARM’s global footprint and extending the company’s product offering into adjacent consumer packaged goods markets,” said Mark Kelly of H.I.G. Europe.

This transaction represents H.I.G. Europe’s 21st new European investment since the beginning of 2011.

© 2012 PEPD • Private Equity’s Leading News Magazine • 9-18-12

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