Industrial Opportunity Partners has acquired Sioux Falls, South Dakota-based Raven Engineered Films, a provider of high-performance flexible films and sheeting. The seller was CNH Industrial NV. No financial terms were disclosed.
SIOUX FALLS, S.D.–(BUSINESS WIRE)–Today, Sioux Falls-based Raven Engineered Films announced that Industrial Opportunity Partners (“IOP”) has acquired the business from CNH Industrial N.V. (NYSE: CNHI / MI: CNHI). IOP is an operations-focused private equity firm based in Evanston, Illinois.
Scott Wickersham, president and general manager of Raven Engineered Films, will assume the position of CEO under new ownership.
“The acquisition by IOP represents a new chapter for Raven Engineered Films that will benefit our team members and our communities,” said Wickersham. “We believe IOP will enable us to unlock the next levels of growth by innovating new products and creating value for our customers.”
Raven Engineered Films is an innovator in developing and manufacturing lighter, thinner, stronger polymer film and sheeting solutions to help solve application and product challenges across the globe. A former business unit of Raven Industries, Inc., a U.S.-based leader in precision agriculture technology which was acquired by CNH Industrial N.V. in November 2021, Raven Engineered Films produces all HydraLine™ products from its centrally located facility in Sioux Falls, providing for two-day shipments across the nation with quick order and delivery timelines.
“IOP is excited to have this partnership and provide the resources to support a future of growth and success,” said Dave Mackin of IOP. “The Engineered Films Division of Raven has been an industry leader and known for their innovation, reliability, and quality. We are confident that this partnership will help propel the company to new heights.”
About Raven Engineered Films
Raven Engineered Films, Inc. has established a well-known reputation for manufacturing and supplying high performance flexible films and sheeting to major markets throughout the United States and abroad. As a U.S. manufacturer committed to producing essential film and sheeting to protect Earth’s resources, Raven Engineered Films is dedicated to developing custom solutions that solve precise application challenges — integrating sustainable environmental design practices for long-range performance. Learn more about Raven Engineered Films at https://ravenefd.com.