Madison Dearborn Partners said Monday it has agreed to buy Multi Packaging Solutions from Irving Place Capital. Financial terms weren’t announced. New York-based Multi Packaging supplies print-based specialty packaging. Bank of America Merrill Lynch and Barclays advised MPS while Moelis & Company provided financial advice to Madison Dearborn.
NEW YORK – July 8, 2013 – Madison Dearborn Partners announced today that it has agreed to buy Multi Packaging Solutions (“MPS”), a leading supplier of print-based specialty packaging, from Irving Place Capital. Terms of the transaction were not disclosed.
Multi Packaging Solutions is a manufacturer of high-quality printed folding cartons, labels, and inserts for customers in the healthcare, consumer, and media end markets. MPS has experienced significant growth since Irving Place Capital’s initial investment and now operates 16 manufacturing facilities in the United States and Europe, with approximately 2,600 employees worldwide.
“In 2005 we backed entrepreneur Marc Shore with the shared vision of creating a packaging company that didn’t exist in the marketplace,” said Phil Carpenter, a Senior Managing Director at Irving Place Capital. “Over the past eight years, Marc and the MPS management team have seized that opportunity – completing seven add-on acquisitions, entering new end markets, and investing aggressively to establish a global business to reach new customers. We have enjoyed supporting the team in building MPS and extend our best wishes for their continued success.”
Marc Shore, Chief Executive Officer of Multi Packaging Solutions, said, “The growth MPS has achieved over the last eight years would not have been possible without the support of our customers, employees, and Irving Place Capital. We are excited to partner with Madison Dearborn Partners to capitalize on the significant opportunities available to expand and develop our business. MDP has substantial experience in the packaging industry and our new partnership will allow us to accelerate growth while continuing to provide high-quality products and outstanding service to our global customers.”
Tom Souleles, a Managing Director at Madison Dearborn Partners, commented, “Marc and his team have created a unique company with an unmatched global platform and significant potential for future growth. We believe our experience in supporting packaging businesses will be a real asset to the company as it enters into its next growth phase. We are excited to support the senior team and the company’s employees to build on their track record of success and to help the company reach new heights in its capabilities to service global customers.”
Multi Packaging Solutions was advised on the transaction by Bank of America Merrill Lynch and Barclays. Kirkland & Ellis LLP served as legal advisor to MPS. Madison Dearborn Partners was advised by Moelis & Company. Ropes & Gray LLP served as legal advisor to MDP.
About Multi Packaging Solutions
Multi Packaging Solutions is a leading manufacturer of print-based specialty packaging for the healthcare, consumer, and media end markets. MPS has 16 manufacturing locations in the United States and Europe. The company’s seasoned management, sales, and design teams bring vast experience in packaging solutions to current and future customers. MPS is unique in its depth of industry experience, breadth of technologies, and range of resources. More information is available at www.multipkg.com.
About Irving Place Capital
Irving Place Capital is a middle-market private equity firm that invests in buyouts, recapitalizations, and growth capital opportunities. The firm focuses on making control or entrepreneur-driven investments in companies where it can apply its substantial operating and strategic resources and expertise to enhance value. Since its formation in 1997, Irving Place Capital has been an investor in more than 60 companies and has raised over $4 billion of equity capital. IPC maintains significant packaging industry knowledge and has completed 18 acquisitions in the sector since initiating its packaging investment focus nine years ago. In addition to Multi Packaging Solutions, other current IPC packaging platform companies include Alpha Packaging, Mold-Rite Plastics, and Chesapeake Holdings, which IPC announced it was selling in early July of 2013. More information about Irving Place Capital is available at www.irvingplacecapital.com.
About Madison Dearborn Partners
Madison Dearborn Partners, based in Chicago, is one of the most experienced and successful private equity investment firms in the United States. Since Madison Dearborn’s formation in 1992, the firm has raised six funds with aggregate capital of over $18 billion and has completed approximately 125 investments. Madison Dearborn invests in businesses across a broad spectrum of industries including basic industries, where packaging is a core focus area; business and government services; consumer; health care; financial and transaction services; and telecom, media and technology services. For more information, please visit www.mdcp.com.