LaSalle Capital has sold Impex Global to International Forest Products. LaSalle first invested in Impex Global in December 2012.
Impex Global is a distributor of specialized films used in the packaging industry in food and beverage, industrial, and commercial applications. The company’s products include polyester films, polypropylene films, polyvinylidene chloride films, nylon films, holographic films, and synthetic paper. Impex Global is headquartered in Houston (www.impexfilms.com).
International Forest Products (IFP) is a forest products commodities trader and provides an array of other services including sales and marketing, transportation and logistics, and finance to suppliers and converters in the forest products industry. IFP is headquartered in Foxboro, MA (www.ifpcorp.com).
Impex will operate as IFP’s new Flexible Films Division and Impex’s CEO, John Maxwell, will lead the new division. “We appreciate the strategic guidance and management support that LaSalle and board member Frank Tannura have provided over the last several years and we are excited about the opportunity to continue Impex’s growth with additional resources from IFP,” said Mr. Maxwell.
IFP is owned by The Kraft Group, a holding company for the business interests of Robert Kraft, which is active in paper and packaging, sports and entertainment (the company’s sports holdings include the New England Patriots), real estate development and private equity. The Kraft Group is headquartered in Foxboro, MA (www.thekraftgroup.com).
“We wish John Maxwell and the IFP team continued success as IFP diversifies its product line with the addition of Impex,” said Rocco Martino, Co-Founder and Partner at LaSalle.
LaSalle Capital makes control investments of $10 million to $20 million in companies with revenues from $20 million to $100 million and EBITDA greater than $3 million. Sectors of specific interest include food and beverage and technology-enabled business services. The firm is currently investing out of its second fund which held a final closing in May 2012 with $205 million in commitments. LaSalle Capital is based in Chicago (www.lasallecapitalgroup.com).
© 2018 Private Equity Professional | February 23, 2018