Divestiture • Packaging

Atlas Holdings Acquires Novipax

On April 2, 2015, private equity firm Atlas Holdings acquired packaging company Novipax from Sealed Air

Acquisition Context
  • This is Atlas Holdings’ 3rd transaction in the Packaging sector.
  • This is Atlas Holdings’ 14th transaction in the United States.
  • This is Atlas Holdings’ 3rd transaction in Illinois.
Investment Fate
  • Novipax was sold to a consortium of financial buyers in 2020.

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M&A Deal Summary

Date April 2, 2015
Target Novipax
Sector Packaging
Buyer(s) Atlas Holdings
Sellers(s) Sealed Air
Deal Type Divestiture

Target Company

Novipax

Oak Brook, Illinois, United States
Novipax is a producer of absorbent pads and among the top manufacturers of expanded polystyrene (EPS) foam trays in the United States. Novipax operates five manufacturing facilities serving food processors, supermarkets, and food packaging distributors. Its facilities are located in Indianapolis, Indiana; Paxinos and Reading, Pennsylvania; Rockingham, North Carolina; and Grenada, Mississippi. Novipax was formed in 2015 and is based in Oak Brook, Illinois.
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Buyer Overview 1

Buyer

Atlas Holdings

Greenwich, Connecticut, United States

Category Private Equity Firm
Founded 2002
Size Large
Type Sector Agnostic
DESCRIPTION

Atlas Holdings is a private equity and investment holding firm focused on acquiring controlling interests in businesses operating in traditional, basic industries. Areas of interest include automotive, business services, industrial services, building materials, pulp and paper, distribution, energy, packaging, specialty steel and wood products. The Firm will participate in bankruptcy investments, highly structured equity and debt investments, leveraged ESOP acquisitions, out-of-court restructurings, and roll-ups. Atlas typically partners with private and institutional investors and structures one investment at a time. Atlas Holdings was established in 2002 and is based in Greenwich, Connecticut.


Deal Context for Buyer #
Overall 17 of 40
Sector: Packaging 3 of 4
Type: Divestiture 5 of 14
State: Illinois 3 of 4
Country: United States 14 of 32
Year: 2015 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Aludium

Alicante, Spain

Aludium consists of the former Alcoa mills located in Castelsarrasin (France), Amorebieta and Alicante (Spain), and the state-of-the-art Cindal research and development facility in Alicante. Aludium produces engineered, high-quality products for a broad array of sectors including building and construction, brights and decoration, closures and cosmetics.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-30 Merchants Metals

Atlanta, Georgia, United States

Merchants Metals manufactures chain link and ornamental steel fences and fittings at five manufacturing facilities in Houston, Texas; Statesville, North Carolina; Harrison, Arkansas; New Paris, Indiana; and Mexicali, CP, Mexico. Merchants Metals was founded in 1953 and is based in Atlanta, Georgia.

Buy -

Seller Profile 1

SELLER

Sealed Air

Charlotte, North Carolina, United States

Category Company
Founded 1960
Sector Packaging
Employees16,400
Revenue 5.4B USD (2024)
DESCRIPTION
Entrance to Sealed Air's corporate headquarters in Charlotte, North Carolina.
Entrance to Sealed Air's corporate headquarters in Charlotte, North Carolina.

Sealed Air is a provider of food safety and security, facility hygiene and product protection. Sealed Air serves an array of end markets including food and beverage processing, food service, retail, healthcare and industrial, and commercial and consumer applications. Sealed Air was formed in 1960 and is based in Charlotte, North Carolina.


Deal Context for Seller #
Overall 3 of 5
Sector: Packaging 2 of 3
Type: Divestiture 3 of 5
State: Illinois 1 of 1
Country: United States 2 of 3
Year: 2015 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-02 Virox Accel Brand and Healthcare Business

Canada

Virox Technologies’ Accel® brand and healthcare business.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-15 Intellibot Robotics

Portland, Oregon, United States

Intellibot Robotics, Inc. is a manufacturer of robotic, commercial, floor cleaners. Intellibot Robotics is a provider of automated cleaning machines.

Buy -