Mill Point Capital has sold Huntington Solutions, a provider of shape-molded packaging solutions. No financial terms were disclosed. Raymond James & Associates Inc advised Huntington Solutions on the transaction.
GREER, S.C.–(BUSINESS WIRE)–Mill Point Capital, a private equity firm focused on control-oriented investments in the industrial, IT services and business services sectors, announced today the sale of Huntington Solutions, a leading provider of shape-molded packaging solutions made from expanded polystyrene (EPS), expanded polypropylene (EPP) and other advanced resins. Details of the transaction were not disclosed.
Huntington Solutions has experienced accelerated success, including its expansion into the high-growth cold chain market, since its acquisition by Mill Point Capital in 2016.
“We are very proud of what we accomplished together with the Huntington team over the last few years,” said Dustin Smith, Partner of Mill Point Capital. “Since the initial transaction in 2016, Huntington has evolved into a leading player in the foam packaging industry and is poised to benefit from continued strong trends in cold chain packaging.”
“It has been a pleasure working with Tom Barnes, Ed Flynn, Benjamin Raygoza and the entire team to transform the business, including through multiple acquisitions, to create a diversified packaging leader,” said Mark Paolano, Vice President of Mill Point Capital. “We look forward to the continued success and evolution of Huntington.”
Said Jim Hamelink, Chairman of Huntington, “The Huntington team has been highly successful in executing upon our value creation plan, positioning the company for long-term growth and market expansion. We are thankful for our partnership.”
Huntington Solutions was represented in this transaction by Raymond James & Associates, Inc.
About Huntington Solutions
Headquartered in Greer, SC, Huntington Solutions is a leading provider of custom-engineered shape-molded and fabricated foam made from expanded polystyrene (EPS), expanded polypropylene (EPP) and other advanced resins. The company’s seven production facilities, strategically located in South Carolina, Michigan, Ohio, Virginia, Texas and two in Mexico, specialize in the production and assembly of key components utilized in protective packaging, energy absorbing safety materials and temperature-controlled containers. For more information, please visit www.hunt-sol.com.
About Mill Point Capital
Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the industrial, IT services and business services sectors. The firm works with executive partners to leverage its investment professionals’ experience while providing strategic and operational guidance to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.