Packaging

First Atlantic Capital has made an investment in C-P Flexible Packaging, a manufacturer of packaging for a variety of diversified end markets. 

C-P Flexible Packaging is a manufacturer of flexible packaging for the snack food, bakery, confection and consumer goods sectors.  The company offers various flexible packaging products, including shrink sleeves, bags and pouches. C-P Flexible Packaging utilizes an array of state-of-the-art presses, laminators and extruders and operates 145,000 square feet of manufacturing and warehouse space across two facilities in York, PA (www.cpflexpack.com). 

First Atlantic Capital invests in middle-market companies with a specific interest in the plastics and packaging, branded foods, food processing, industrial and consumer goods, and business services industries. Since its inception in 1989, First Atlantic has acquired 60 companies and consolidated them into 22 major platforms.  The firm is based in New York (www.firstatlanticcapital.com). 

Mesirow Financial acted as the exclusive financial advisor to C-P Flexible Packaging.  Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed over 90 transactions in recent years.  

“Mesirow Financial’s professionals did a great job executing the investment by First Atlantic. Their diligent and professional approach resulted in a transaction that is extremely satisfying to our shareholders and management team. I could not be more excited to align C-P with First Atlantic as they take the company through the next phase of growth,” said Tony Vaudo, chief executive officer of C-P Flexible Packaging. 

Mesirow Financial’s Investment Banking group focuses exclusively on middle-market transactions and serves middle-market companies and large corporations, both public and private, in merger and acquisition advisory, capital markets advisory, restructuring and special situations, fairness and solvency opinion, board of directors advisory and special committee representation.  Overall, Mesirow Financial is a diversified financial services firm with particular expertise in investment management, global markets, insurance services and consulting.  Founded in 1937, Mesirow is an independent, employee-owned firm with more than 1,200 employees in offices across the US and in London, UK. The firm is headquartered in Chicago (www.mesirowfinancial.com). 

“C-P Flexible Packaging is an impressive, high-growth business with a first-rate reputation in the packaging industry. We were honored to represent the company’s shareholders in this process,” said Louis Mitchell, a Mesirow Financial managing director.

© 2013 PEPD • Private Equity’s Leading News Magazine • 2-12-13

Albion Investors and Isleworth Capital Partners have acquired S.I. Jacobson Manufacturing Company, a designer and manufacturer of molded cases.

S.I. Jacobson is a designer and manufacturer of fabric, vinyl and compression molded cases supplied to a variety of industries, including hardware, houseware, automotive, electronics and medical applications. The company works with OEM clients to provide customized packaging products to promote brand awareness, improve retail visibility, and increase end user functionality. S.I. Jacobson also offers project management services, including planning and analysis, logistics and marketing support.  The company is headquartered in Waukegan, IL (www.sij.com).

Albion Investors invests in lower middle market companies with EBITDAs from $.5 million to $3 million.  Sectors of interest include specialty manufacturing, business services, value-added distribution, and consumer products. The firm has office in New York and Chicago (www.albioninvestors.com).

Isleworth Capital Partners is a private equity firm founded by Frank Feraco. The firm is located in Schaumburg, IL (no website found).

Mesirow Financial acted as the exclusive financial advisor to S.I. Jacobson Manufacturing Company in this transaction.  Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed over 90 transactions in recent years.

“Mesirow Financial was instrumental in identifying a strong group of prospective strategic and financial buyers and conducting an effective transaction process. Our customers and employees will both benefit as Isleworth, Albion and S.I. Jacobson join together and continue to grow the company’s product offering.  Mesirow Financial’s advice and senior level leadership throughout the process resulted in a successful outcome for all parties involved,” said Larry Futterman, president and CEO of S.I. Jacobson.

 Mesirow Financial’s Investment Banking group focuses exclusively on middle-market transactions and serves middle-market companies and large corporations, both public and private, in merger and acquisition advisory, capital markets advisory, restructuring and special situations, fairness and solvency opinion, board of directors advisory and special committee representation.  Overall, Mesirow Financial is a diversified financial services firm with particular expertise in investment management, global markets, insurance services and consulting.  Founded in 1937, Mesirow is an independent, employee-owned firm with more than 1,200 employees in offices across the US and in London, UK. The firm is headquartered in Chicago (www.mesirowfinancial.com).

“Mesirow Financial was honored to represent the owners and management of S.I. Jacobson in this process. We were happy to leverage our relationships in the specialty packaging and consumer products industries in order to pair S.I. Jacobson with knowledgeable financial sponsors that are committed to growing the Company,” said Jeffrey Golman, vice chairman and head of Mesirow Financial’s Investment Banking group.  “The company’s exceptional senior management team and strong growth opportunities combined with the strategic and financial support from Albion and Isleworth will provide S.I. Jacobson with a platform for future success in the specialty packaging industry.”

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-23-13

Trive Capital has acquired Precise Packaging, a manufacturer of complex pressurized spray products.  As part of the acquisition, Trive has partnered with the company’s current management team who will maintain a meaningful ownership position in the business.

“The Precise Packaging team has built an impressive organization, centered on a culture of excellence and close customer relationships,” said Conner Searcy, Managing Partner at Trive.  “Trive’s experience in the sector allowed us to quickly recognize the company’s unique market position and future growth potential.  We look forward to partnering with management in providing the strategic and financial support necessary to execute on Precise Packaging’s numerous opportunities.”

Precise Packaging (PPI) is a manufacturer of miniature aerosol and pump products.  The company’s products include room sprays, fragrance oils, cosmetic mousses, deodorants, and other solutions used in personal care and household markets.  The company offers turnkey services from initial laboratory formulation and material sourcing, through production, filling, quality check and delivery.  Precise Packaging was founded in 1988 and is based in Fall River, MA (www.precisepackaging.com).

“We were looking for a partner that could provide more than just capital.  Management was impressed with Trive’s ability to develop a vision that will allow the business to grow responsibly while maintaining our commitment to superior service.  We believe this partnership will enable us to succeed in expanding our capabilities and footprint,” said Richard Armstrong, CEO of Precise Packaging.

Trive was introduced to Precise Packaging by Salem Partners (www.salempartners.com), a Los Angeles-based investment bank focused on middle-market mergers and acquisitions.

Trive Capital invests from $5 million to $40 million in US based middle market companies that have revenues from $30 million to $500 million.  Sectors of interest include automotive & transportation; aerospace & defense; building products; construction & infrastructure; consumer goods; energy services; healthcare; manufacturing/industrials; chemicals; distribution; business & professional services; and communications. The firm is based in Dallas (www.trivecapital.com).

“The acquisition of PPI represents Trive’s second platform investment since the formation of the firm six months ago in June 2012.  We remain committed to pursuing attractive lower middle-market companies that can benefit from a strategic partner and exhibit compelling growth potential.  We are very pleased that the PPI management team has selected Trive as its partner to further build the business,” said Chris Zugaro, Partner at Trive.

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-14-13

BWAY Corporation, a supplier of general line rigid containers and a portfolio company of Madison Dearborn Partners, has entered into an agreement to be acquired by Platinum Equity in a transaction valued at approximately $1.2 billion. Senior executives of the BWAY and a number of other employees will invest in the transaction alongside Platinum.

The acquisition will be financed through a combination of equity contributed by Platinum Equity along with certain members of management, and committed debt financing provided by Bank of America Merrill Lynch and Deutsche Bank. The transaction is expected to close in the fourth quarter of 2012.

“BWAY is a world class packaging business with strong customer relationships and a proven management team,” said Louis Samson, the Partner at Platinum Equity whose team led the acquisition. “We are excited to bring our operational capabilities to bear and to partner with the company’s management team to build on BWAY’s strong fundamentals.”

BWAY is a manufacturer and distributor of metal and rigid plastic containers that are used primarily for packaging of industrial and consumer products. Products include aerosol cans, ammunition boxes, cone and pour top cans, metal paint cans, oil cans, and plastic drums. The company operates 22 plants throughout the United States and Canada and is based in Atlanta, GA (www.bwaycorp.com).

“We are very excited about this transaction with Platinum Equity. Platinum brings to BWAY a strong operational and strategic focus and a tremendous track record of value creation that we are convinced will help us achieve new levels of success,” said Ken Roessler, BWAY’s President and Chief Executive Officer. “We look forward to taking the next step in the evolution of our company.”

Goldman, Sachs & Co., Barclays and Deutsche Bank Securities acted as financial advisors to BWAY and Kirkland & Ellis was the company’s legal advisor. Latham & Watkins acted as legal advisor to Platinum Equity.

Platinum Equity invests in a range of industries including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Platinum Equity has completed nearly 120 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition. The firm is based in Beverly Hills, CA and also has offices in New York, NY and London, UK (www.platinumequity.com).

Madison Dearborn Partners has more than $18 billion of capital under management and makes new investments through its most recent funds, Madison Dearborn Capital Partners V and Madison Dearborn Capital Partners VI. Madison Dearborn invests in businesses across a spectrum of industries including basic industries; business and government services; consumer; financial services; health care; and telecom, media and technology services. The firm was founded in 1992 and is based in Chicago, IL (www.mdcp.com).

© 2012 PEPD • Private Equity’s Leading News Magazine • 10-3-12