Evolution Capital Partners LLC sold Innerpac Inc. to a strategic buyer. Innerpac is a Cicero, Ill-based maker of corrugated and chipboard partitions. Evolution Capital added the business to its portfolio in November 2006.
Evolution Capital Partners (“Evolution”) announces the sale of Innerpac, Inc. (Innerpac), one of the leading manufacturers of corrugated and chipboard partitions in the U.S., to a strategic buyer.
Evolution would like to thank the executive management team, its limited partners and co-investors for their hard work, patience and valuable insight during the investment period. “Evolution is proud to have partnered with the Innerpac management team, achieving the goal of creating a national partition company with a solid foundation for growth,” said Evolution’s Managing Partner, Brendan Anderson. “Innerpac President, Gene Marino, and his team are to be congratulated on their outstanding performance and achievements.”
Mesirow Financial acted as Innerpac’s advisor on the transaction. Mesirow, based in Chicago, Illinois, has extensive experience in the packaging industry.
Evolution Capital Partners, LLC
Evolution Capital Partners (“Evolution”) is a Cleveland, Ohio based private equity fund investing in businesses with real opportunities for growth but which lack capital, management-team depth or expertise in certain critical competencies that are required in order to realize a company’s true potential. Evolution targets established companies with a history of profitability and free cash flow of $500,000 to $2,000,000. Evolution partners with existing management, who invest alongside Evolution, and who seek a collaborative partner. For more information, visit http://www.evolutioncp.com/.
Web sites: http://www.evolutioncp.com/
SOURCE Evolution Capital Partners, LLC