Green Bay Packaging buys PE-backed MidCon

Green Bay Packaging has acquired MidCon, a portfolio company of Arbor Investments. No financial terms were disclosed. Baird advised MidCon on the transaction. Based in Wisconsin, MidCon is a provider of corrugated containers, packaging and displays for the food, beverage and industrial sectors.

PRESS RELEASE

MILWAUKEE, Oct. 31, 2014 – Independent and employee-owned financial services firm Baird today announced that it advised MidCon Holdings, LLC (“MidCon”), a portfolio company of Arbor Investments, on its sale to Green Bay Packaging Inc. (“Green Bay Packaging”). The transaction closed on Oct. 31, 2014.

Additional terms of the transaction were not disclosed.

Justin Albert, Managing Director, head of Baird’s Packaging Investment Banking team and lead banker on the transaction, said: “This transaction is the most recent example of accelerating consolidation in the corrugated packaging space. An increasingly competitive environment among corrugated packaging suppliers is driving consolidation as companies seek to build market share, diversify product offerings and expand footprints to increase scale and maintain operational efficiency. That’s certainly the case with this transaction, which broadens Green Bay Packaging’s capabilities and geographic reach, enabling the new company to expand its presence with its customer base.”

Albert continued, “We believe this deal is the most recent example of increasing consolidation in the space, and we expect that activity to unfold rapidly heading into 2015.”

MidCon, with operations in Franksville, Wisc. (Midland Container) and Germantown, Wisc. (Great Lakes Packaging), is a leading provider of corrugated containers, point-of-sale packaging and point-of-purchase displays to a wide range of food, beverage and industrial customers.

Headquartered in Chicago, Ill., Arbor Investments is a specialized private equity firm that focuses exclusively on acquiring companies in the food, beverage and related industries.

Green Bay Packaging is a family-owned, vertically integrated company consisting of corrugated container plants, folding cartons, recycled and virgin linerboard mills, pressure-sensitive label rollstock, specialty converting operations, timberlands and a sawmill facility.

About Baird’s Global Investment Banking group
Recognized as the 2011 “Investment Banking Firm of the Year” by The M&A Advisor, Baird is a leading global investment bank focused on the middle market. Approximately 250 investment banking professionals in the U.S., Europe and Asia provide corporations, entrepreneurs, private equity and venture capital firms with in-depth market knowledge and extensive experience in merger and acquisition and equity financing transactions. Since 2009, Baird has advised on 305 M&A transactions representing more than $71 billion in transaction value and has served as lead or co-manager on 440 equity offerings raising $131.8 billion. Baird has received “Deal of the Year” recognitions from The M&A Advisor for nine years running, demonstrating commitment to attaining great outcomes for clients.

About Baird
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has approximately 3,000 associates serving the needs of individual, corporate, institutional and municipal clients. Baird has more than $125 billion in client assets. Committed to being a great place to work, Baird ranked No. 9 on FORTUNE’s 100 Best Companies to Work For in 2014 – its 11th consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. and McAdams Wright Ragen, Inc. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s Web site at www.rwbaird.com.