New-Indy Containerboard LLC, a joint venture between Schwarz Partners LP and Kraft Group LLC, has acquired Ontario, California-based Proactive Packaging and Display, a provider of corrugated display packaging and merchandising formats for the retail environment. No financial terms were disclosed. Mesirow Financial served as financial adviser to Proactive on the deal. Proactive was backed by CK Pearl.
CHICAGO, May 9, 2019 /PRNewswire/ — Mesirow Financial acted as the exclusive financial advisor to Proactive Packaging and Display, LLC (“Proactive” or the “Company”), a portfolio company of CK Pearl Fund (“CK Pearl”), on its sale to New-Indy Containerboard LLC (“New-Indy”), a joint venture between Schwarz Partners LP and Kraft Group LLC.
Headquartered in Ontario, CA, Proactive is an award-winning producer of high-impact corrugated display packaging and merchandising formats for the retail environment. The Company designs, manufactures and assembles custom packaging in a 240,000 sq. ft. facility using world-class direct print and digital presses capable of printing up to eight colors.
“Our goal was to find a strategic partner that would be devoted to our customer service and growth objectives,” said Doug Johnston, CEO of Proactive. “Mesirow Financial’s team was committed to delivering on that goal, and their guidance throughout the process enabled us to achieve a successful outcome.”
Daniel Gabay, vice president of Crestline, manager of CK Pearl, commented on the transaction, “We have greatly enjoyed our time with Proactive and wish them the best of luck as they embark on this next chapter. We are confident that they will continue to thrive under New-Indy’s leadership.”
Melanie Yermack, director in Mesirow Financial’s Investment Banking group commented on the transaction, “It was an honor to facilitate the partnership of these two highly regarded companies in the packaging industry. We believe Proactive’ s reputation for high graphic direct, litho label and digital print will complement New-Indy’s capabilities in the region, allowing for strong continued growth.”
The transaction represents another successful assignment completed by Mesirow Financial’s Investment Banking group. Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed over 125 transactions in recent years.
About Proactive Packaging and Display, LLC
Established in 1994, Proactive provides color printing services on corrugated and paperboard stock. The Company also offers rotary and flat-bed die-cutting, as well as packaging and display design and production. Services include logistics and consulting support. To learn more, please visit proactivepkg.com.
About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm. Crestline specializes in credit and opportunistic investments, including financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity market-neutral hedge fund and provides Beta and Hedging Solutions for Institutional clients. The company maintains affiliate offices in New York City, Chicago, London, Toronto and Tokyo. To learn more, please visit crestlineinvestors.com.
About New-Indy Containerboard LLC
New-Indy is a joint-venture that was formed in 2012 by the Kraft Group and Schwarz Partners, LP, two family-owned companies with long histories in paper and packaging. Today, New-Indy operates three recycled brown paper mills and eight packaging facilities throughout the United States. The Catawba Mill acquisition represents a continuation of New-Indy’s investment in growing the venture through the acquisition of strategic and synergistic companies in the paper and packaging industry. To learn more, please visit newindycontainerboard.com.
About Schwarz Partners LP
Based in Indianapolis, Indiana, Schwarz Partners, LP is a privately-owned company with a focus on corrugated products and logistics. The Royal Group, the packaging division of Schwarz Partners, services customers in the automotive, agriculture, industrial manufacturing and consumer goods industries throughout North America and consists of 33 locations, 12 of which are corrugated box and sheet plants. Schwarz Partners is also considered the largest producer of sheets in the U.S. with interests in 11 sheet feeder corrugator plants. Together, the sheet feeders and the corrugator box plants currently consume approximately 1.5 million tons of containerboard annually. Venture Logistics, the supply chain management company of Schwarz Partners, consists of 1,000 tractors, a brokerage division moving 2,000 loads per week and more than 1 million square feet of warehouse and cross dock space. To learn more, please visit schwarzpartners.com.
About Kraft Group LLC
The Kraft Group, headquartered in Foxborough, Massachusetts, is the holding company for the Kraft family’s various businesses, with concentrated interests in five areas: paper and packaging manufacturing and the distribution of forest products; sports and entertainment; real estate and development; private equity investing and philanthropy. Together, the Rand-Whitney Group and International Forest Products conduct business in more than 90 countries and form one of the largest privately-owned paper, packaging and distribution companies in the world, trading more than 4 million tons of pulp and paper grades annually. The Kraft Group’s sports and entertainment division features Gillette Stadium, New England’s premier concert and entertainment venue and home to the National Football League’s six-time Super Bowl champion New England Patriots and Major League Soccer’s New England Revolution. To learn more, please visit thekraftgroup.com.
About Mesirow Financial
Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, we are committed to helping our institutional, corporate and individual clients achieve their objectives. Our professionals are inspired by an entrepreneurial desire to develop tailored solutions that deliver measurable results. To learn more, please visit mesirowfinancial.com.