M&A Deal Summary

Specialized Packaging Group Acquires Packaging Concepts & Design

On December 6, 2021, Specialized Packaging Group acquired packaging company Packaging Concepts & Design from Midwest Mezzanine Funds and O2 Investment Partners

Acquisition Highlights
  • This is Specialized Packaging Group’s 1st transaction in the Packaging sector.
  • This is Specialized Packaging Group’s 1st transaction in the United States.
  • This is Specialized Packaging Group’s 1st transaction in Michigan.

M&A Deal Summary
Date 2021-12-06
Target Packaging Concepts & Design
Sector Packaging
Buyer(s) Specialized Packaging Group
Sellers(s) Midwest Mezzanine Funds
O2 Investment Partners
Deal Type Add-on Acquisition

Target

Packaging Concepts & Design

Troy, Michigan, United States
website
Packaging Concepts & Design is a provider of design, and delivery of packaging solutions primarily to the automotive industry including OEMs and Tier One suppliers. Packaging Concepts & Design is based in Troy, Michigan.

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Buyer(S) 1

Buyer

Specialized Packaging Group

Hamden, Connecticut, United States

website

Category Company
Founded 1983
Sector Packaging
DESCRIPTION

Specialized Packaging Group is a vertically-integrated provider of protective packaging products that operates under two divisions, IVEX and Engineered Packaging. Specialized Packaging Group was founded in 1983 and is based in Hamden, Connecticut.

DEAL STATS #
Overall 1 of 3
Sector (Packaging) 1 of 3
Type (Add-on Acquisition) 1 of 3
State (Michigan) 1 of 1
Country (United States) 1 of 3
Year (2021) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-05 Pacific Pulp

San Diego, California, United States

Pacific Pulp is a provider in the design and manufacturing of highly engineered molded pulp and molded fiber packaging products and solutions. Pacific Pulp provides molded fiber and molded pulp packaging to companies located throughout North America. Pacific Pulp was founded in 1998 and is based in San Diego, California.

Buy -

Seller(S) 2

SELLER

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.

DEAL STATS #
Overall 48 of 54
Sector (Packaging) 2 of 2
Type (Add-on Acquisition) 19 of 23
State (Michigan) 5 of 6
Country (United States) 47 of 53
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 FireKing

New Albany, Indiana, United States

FireKing is a manufacturer of fireproof, impact-resistant, document retention and data storage systems. FireKing was founded in 1951 and is based in New Albany, Indiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 ICAT Logistics

Elkridge, Maryland, United States

ICAT Logistics is a specialty provider of global transport logistics and expedited freight services. ICAT Logistics was established in 1993 and is based in Elkridge, Maryland.

Buy -
SELLER

O2 Investment Partners

Bloomfield Hills, Michigan, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

O2 Investment Partners is a Midwest US-based private equity group that acquires majority interests in small and mid-sized businesses operating in traditional industries, including manufacturing, niche distribution, select service and technology businesses. Target companies typically have stable cash flows, sustainable and defensible business models, and growth potential. O2 Investment Partners was formed in the year 2010 and is based in Bloomfield Hills, Michigan.

DEAL STATS #
Overall 8 of 10
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 5 of 6
State (Michigan) 2 of 2
Country (United States) 7 of 9
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 Stronghouse Solutions

Eden Prairie, Minnesota, United States

Stronghouse Solutions is a provider of roof replacement and other exterior restoration services to single-family and multi-family residential customers. Stronghouse focuses on restoring properties that have been damaged by hail and/or wind and guide its customers through the complex construction and insurance processes with a high-touch, tech-enabled approach that is a true differentiator in the fragmented roofing landscape. Stronghouse Solutions was founded in 2011 and is based in Eden Prairie, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 Mantis Innovation

Houston, Texas, United States

Mantis Innovation offers a full suite of services, including energy procurement and demand management; solar, roofing, building envelope, and pavement, design, assessment, and maintenance; and LED lighting, HVAC/mechanical, and building automation systems implementation. Mantis Innovation is based in Houston, Texas.

Sell -
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