CI Capital Partners, a North American private investment firm, have announced that it has acquired the operations of The IntraPac Group ("IntraPac"), a specialty plastic packaging company providing a broad array of packaging solutions to the personal care and pharmaceutical markets.
CI Capital Partners, a North American private investment firm, have announced that it has acquired the operations of The IntraPac Group ("IntraPac"), a specialty plastic packaging company providing a broad array of packaging solutions to the personal care and pharmaceutical markets. The terms of the transaction were not disclosed.
IntraPac is a leading manufacturer and marketer of specialty plastic packaging, focused on the personal care and pharmaceutical markets, as well as food, beverage, and household and industrial chemicals.
IntraPac's product offering includes personal care and amenity bottles, single and double-walled jars, injection molded caps and closures, laminate tubes, tin tubes, deodorant stick canisters, and other specialty rigid plastic packaging products. Products in each segment are designed to fit customers' unique specifications including size, shape, resin and color. IntraPac has eight production facilities spanning North and Central America, and serves over 400 customers worldwide. In conjunction with the transaction, Thomas K. Linton, formerly the President of North American Packaging Corporation (NAMPAC), will become Chief Executive Officer of IntraPac.
"IntraPac's unique value proposition, offering a complete specialty packaging product suite, is a very attractive platform for growth," said Steven M. Lefkowitz, President of CI Capital. "IntraPac has a strong track record of growth and profitability, a proven ability to make attractive acquisitions, and long-term relationships with a high quality, diverse customer base. We look forward to working with Tom Linton and the company's experienced management team to build on IntraPac's strong position and pursue further growth opportunities in this space," said Mr. Lefkowitz.
Tom Linton said, "I am excited to partner with CI Capital, a firm that has a long history of helping companies like IntraPac accelerate their growth and execute on strategic acquisitions. We are confident that this transaction will enable IntraPac to create and deliver even more value to our existing customers as well as secure new customers."
"IntraPac's targeted product offering, including specialty bottles, jars, caps and closures, and tubes, offer attractive growth potential, profitability, and consolidation opportunities," added Tom Ritchie, Managing Director at CI Capital. "IntraPac will serve as a platform in this industry as we seek to invest in or acquire complementary businesses to expand the company's product breadth and customer base."
GE Antares Capital, BMO Capital Markets, Madison Capital Funding LLC and Audax Mezzanine provided financing for the transaction.
BMO Capital Markets acted as financial advisor to IntraPac. Sidley Austin LLP, Gowling Lafleur Henderson LLP, and Pacheco Coto provided legal counsel to IntraPac. Paul, Weiss, Rifkind, Wharton & Garrison LLP, Blake, Cassels & Graydon LLP, and LEX Counsel provided legal counsel to CI Capital.
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