M&A Deal Summary

Clearlake Capital Acquires MRP

On September 14, 2021, private equity firm Clearlake Capital acquired plastics company MRP from Irving Place Capital

Acquisition Highlights
  • This is Clearlake Capital’s 1st transaction in the Plastics sector.
  • This is Clearlake Capital’s 70th transaction in the United States.
  • This is Clearlake Capital’s 4th transaction in New York.

M&A Deal Summary

Date 2021-09-14
Target MRP
Sector Plastics
Buyer(s) Clearlake Capital
Sellers(s) Irving Place Capital
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

MRP

Plattsburgh, New York, United States
website
MRP designs and manufactures rigid plastic packaging components used by millions of consumers in a diverse set of end-markets, with a primary focus on the health and wellness verticals. The Company has a library of 900+ tools used to support a product offering of 10,000+ SKUs and the ability to create a meaningfully higher count of variations. MRP is based in Plattsburgh, New York.

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Buyer(S) 1

Buyer

Clearlake Capital

Santa Monica, California, United States

website


Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


DEAL STATS #
Overall 73 of 85
Sector (Plastics) 1 of 1
Type (Secondary Buyout) 32 of 37
State (New York) 4 of 5
Country (United States) 70 of 81
Year (2021) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 Cornerstone

Santa Monica, California, United States

Cornerstone is a provider of cloud based comprehensive learning and talent management software solutions. Cornerstone was formed in 1999 and is based in Santa Monica, California.

Buy $5.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-29 Quest

Aliso Viejo, California, United States

Quest is a provider of a broad suite of integrated infrastructure software for managing systems, data, and applications. Quest helps organizations be IT resilient by protecting and powering users, endpoints and data, as well as by hardening cybersecurity systems. Quest is based in Aliso Viejo, California.

Buy $5.4B

Seller(S) 1

SELLER

Irving Place Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 4.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Irving Place Capital (formerly Bear Stearns Merchant Banking) is an independent private equity firm focused on making investments in middle-market companies located in North America and Western Europe. Irving primarily looks for opportunities in the retail, financial services, consumer products and packaging sectors, but will also consider investments in other traditional and service based businesses such as restaurants, transportation/logistics, healthcare, energy, and industrial products/services. The Firm's target investment size is $50 to $250 million of equity capital and EBITDA in excess of $7 million. Prospective transaction situations include traditional management buyouts, growth capital financings, divestitures, consolidations, and recapitalizations. Irving Place is based in New York City.


DEAL STATS #
Overall 37 of 39
Sector (Plastics) 1 of 1
Type (Secondary Buyout) 13 of 13
State (New York) 6 of 7
Country (United States) 30 of 32
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 eGenesis

Cambridge, Massachusetts, United States

eGenesis is a biotechnology company using breakthrough gene-editing technologies for the development of safe and effective human-compatible organs, tissues, and cells. eGenesis is based in Cambridge, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-16 Alpha Packaging

St. Louis, Missouri, United States

Alpha Packaging is a manufacturer of rigid plastic bottles and jars primarily for the nutritional, pharmaceutical, and personal care markets. Alpha Packaging is based in St. Louis, Missouri.

Sell -