Morgan Stanley Capital Partners Completes the Sale of PPC Flexible Packaging
01 Outubro 2021 - 9:00AM
Business Wire
Investment funds managed by Morgan Stanley Capital Partners
(“MSCP”) today announced the sale of PPC Flexible Packaging (“PPC”
or the “Company”) to GTCR. As part of the transaction, PPC
management will continue to lead the Company and retain a
significant minority stake. Financial terms of the transaction were
not disclosed.
Headquartered in Buffalo Grove, IL, PPC is a leading flexible
packaging provider operating across ten manufacturing locations in
the United States. Since MSCP’s initial investment in 2017, PPC and
MSCP have pioneered industry-leading cleanroom packaging for
healthcare and medical applications, snack and organic brands, as
well as specialty produce, nutraceutical and bakery end markets,
while remaining committed to providing best-in-class service,
quality and product innovation. PPC has led consolidation in the
flexible packaging industry, completing eight acquisitions since
MSCP’s investment.
“We are proud to have partnered with Kevin and the PPC team as
they built one of the industry leading platforms in the flexible
packaging industry,” said Eric Kanter, Managing Director and Head
of Industrials at MSCP. “We believe PPC has cemented itself as a
unique, high growth innovator in the sector, and we have
appreciated the opportunity to work with the entire PPC team during
this transformational period at the Company. We are extremely
grateful for their hard work and dedication over the past four
years.”
“Four years ago, I partnered with MSCP as our growth partner
because we believed they had the track record, deep sub-sector
expertise, and operational focus to help build a leading player in
the flexible packaging market,” Kevin Keneally, Chief Executive
Officer of PPC, said. “MSCP has been a tremendous partner to the
entire PPC team, continuously supporting our organic growth
aspirations, operational initiatives, and M&A capabilities, and
we thank them for their impactful contributions to the
business.”
PPC was MSCP’s first investment in, and marks its first exit
from, the packaging space, which has been a core sub-sector within
MSCP’s broader Industrials effort. Since the investment in PPC,
MSCP has also made control investments in Comar, a rigid healthcare
packaging and medical components supplier, and AWT Labels &
Packaging, a provider of labels and flexible packaging
solutions.
William Blair acted as financial advisor to PPC, with
co-advisory support from Raymond James and Mesirow. Jones Day
served as legal advisor to MSCP.
About Morgan Stanley Capital Partners Morgan Stanley
Capital Partners, part of Morgan Stanley Investment Management, is
a leading middle-market private equity platform that has invested
capital in a broad spectrum of industries for over three decades.
Morgan Stanley Capital Partners focuses on privately negotiated
equity and equity-related investments primarily in North America
and seeks to create value in portfolio companies primarily in a
series of subsectors in the business services, consumer,
healthcare, education and industrials markets with an emphasis on
driving significant organic and acquisition growth through an
operationally focused approach. For further information about
Morgan Stanley Capital Partners, please visit
www.morganstanley.com/im/capitalpartners.
Morgan Stanley Investment Management Morgan Stanley
Investment Management, together with its investment advisory
affiliates, has more than 719 investment professionals around the
world and $1.5 trillion in assets under management or supervision
as of June 30, 2021. Morgan Stanley Investment Management strives
to provide outstanding long-term investment performance, service
and a comprehensive suite of investment management solutions to a
diverse client base, which includes governments, institutions,
corporations and individuals worldwide. For further information
about Morgan Stanley Investment Management, please visit
www.morganstanley.com/im.
About Morgan Stanley Morgan Stanley (NYSE: MS) is a
leading global financial services firm providing investment
banking, securities, wealth management and investment management
services. With offices in more than 41 countries, the Firm's
employees serve clients worldwide including corporations,
governments, institutions and individuals. For more information
about Morgan Stanley, please visit www.morganstanley.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211001005147/en/
Morgan Stanley Contact: Lauren Bellmare,
Lauren.Bellmare@MorganStanley.com.
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