KRG Capital Partners has sold Fort Dearborn Company, a supplier of prime labels for the consumer goods sector, to Advent International. No financial terms were disclosed. UBS Investment Bank and Lazard provided financial advice to Fort Dearborn on the deal.
DENVER–(BUSINESS WIRE)–KRG Capital Partners (KRG), a Denver-based buyout firm, completed its sale of Fort Dearborn Company (“Fort Dearborn” or the “Company”), a leading North American supplier of high impact prime labels for the consumer goods industry to Advent International (“Advent”) on October 19, 2016.
KRG acquired Fort Dearborn in August 2010. This sale represents the eighth exit in KRG’s $1.96 billion Fund IV. Fort Dearborn also represents the 39th exit over KRG’s 20-year history of consistently applying the “buy-and-build” strategy to achieve growth by expanding the product and service capabilities of its platform companies to meet customer needs. Inception-to-date, KRG portfolio companies have completed a combined 199 add-on acquisitions.
KRG partnered with Fort Dearborn management to execute a strategic plan designed to capitalize on the Company’s core strengths, while expanding into higher-growth and emerging label technologies. During KRG’s investment period, Fort Dearborn completed four strategic acquisitions that expanded the Company’s product and service capabilities. “Fort Dearborn’s associates have done an excellent job growing the Company’s leadership position in the industry over the last six years and have delivered outstanding service to the Company’s growing client base. We were pleased to work with the Fort Dearborn team in realizing this vision, and wish them continued success as they partner with Advent,” said Chris Lane, Managing Director of KRG.
Fort Dearborn’s President and Chief Executive Officer, Jeff Brezek, added “The partnership with KRG positioned us well to continue our strategy of providing industry-leading prime label products and services. We thank KRG for their support and are excited about continuing our growth strategy through the new partnership with Advent.”
UBS Investment Bank and Lazard served as financial advisors and Hogan Lovells served as legal advisor to Fort Dearborn on the transaction.
About Fort Dearborn:
Founded in 1925, Fort Dearborn Company is a leading 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 holds market-leading positions in several label technologies and offers a variety of value-added services to its customers. Headquartered in Illinois, the Company has 15 manufacturing facilities in North America, employing approximately 1,675 associates.
About KRG Capital Partners:
Founded in 1996, KRG is a Denver-based private equity buyout firm with $4.4 billion of cumulative capital either deployed or available for future investment, which includes approximately $1.2 billion deployed since inception by institutional equity co-investors. The firm seeks investment opportunities for its partners where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. More information on KRG is available at www.krgcapital.com.