Gateway Packaging Company, a portfolio company of Saw Mill Capital LLC, has acquired the operating assets of Werthan Packaging Inc. Financial terms weren’t announced. Werthan, of White House, Tennessee, is a paper packaging supplier that filed for Chapter 11 bankruptcy protection in December.
BRIARCLIFF MANOR, N.Y., Jan. 18, 2017 /PRNewswire/ — Gateway Packaging Company (“Gateway”), a portfolio company of Saw Mill Capital LLC (“Saw Mill”), has acquired the operating assets of Werthan Packaging, Inc. (“Werthan”). The acquisition augments Gateway’s market position as the leading provider of flexible packaging to the pet care market and introduces Werthan’s former customers to Gateway’s broad product portfolio and diverse capabilities. Gateway will continue to operate Werthan’s former White House, TN facility.
Omar Abuaita, Gateway CEO, commented, “Werthan built a reputation as a high-quality manufacturer, and we are thrilled to add its capabilities and talented employees to Gateway. This investment substantially expands our capacity to continue our rapid growth in pet care.”
Tim Nelson, Partner at Saw Mill, added, “Omar has led Gateway’s transformation over the past several years, investing in new product development, people, and equipment to position Gateway as the premier flexible packaging company focused on the pet care market. We are better positioned than ever to continue growing with new and existing customers.”
About Gateway Packaging Company
Headquartered in Granite City, IL, Gateway Packaging Company, LLC is an innovative supplier of flexible packaging products and technologies, serving many Fortune 100 consumer products companies throughout the United States. Gateway designs, manufactures, and supplies a full range of plastic, paper, nylon, and woven flexible packaging products for the pet care markets. Products include pre-formed stand up and flat bottomed pouches, quad bags, multiwall and SOS paper bags, as well as hybrid and woven bags, lidding, labels, roll stock and Chubb film items. www.gatewaypackaging.com
About Saw Mill Capital
Based in Briarcliff Manor, New York, Saw Mill Capital is a private equity firm that acquires manufacturing, industrial and commercial service, and specialty distribution businesses with enterprise values of $25 million to $200 million. Since 1997, Saw Mill Capital has been partnering with management teams to help successful businesses reach their full potential. www.sawmillcapital.com