M&A Deal Summary

IPG Acquires Polyair Inter Pack

On July 18, 2018, IPG acquired plastics company Polyair Inter Pack from Glencoe Capital for 146M USD

Acquisition Highlights
  • This is IPG’s 1st transaction in the Plastics sector.
  • This is IPG’s largest (disclosed) transaction.
  • This is IPG’s 1st transaction in Canada.
  • This is IPG’s 1st transaction in Ontario.

M&A Deal Summary

Date 2018-07-18
Target Polyair Inter Pack
Sector Plastics
Buyer(s) IPG
Sellers(s) Glencoe Capital
Deal Type Add-on Acquisition
Deal Value 146M USD

Target

Polyair Inter Pack

Toronto, Ontario, Canada
website
Polyair Inter Pack, Inc. is a manufacturer and marketer of protective packaging products, including air bubble packaging, mailers, foam laminates, insulation and integrated packaging systems. Polyair Inter Pack was founded in 1968 and is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

IPG

Sarasota, Florida, United States

website


Category Company
Founded 1981
Sector Packaging
Employees4,100
Revenue 1.2B CAD (2020)
DESCRIPTION

IPG develops, manufactures, and sells a variety of paper and film-based pressure-sensitive and water-activated tapes, stretch and shrink films, protective packaging, woven and non-woven products, and packaging machinery for industrial and retail use. IPG was founded in 1981 and is based in Montreal, Canada.


DEAL STATS #
Overall 5 of 7
Sector (Plastics) 1 of 1
Type (Add-on Acquisition) 4 of 6
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-02 Powerband Industries Pvt

Daman, India

Powerband Industries Pvt Ltd is a manufacturer of adhesive-based carton sealing tapes and stretch films located in Daman, India. From its ISO 9001:2008 and ISO 14001:2004 certified facility, Powerband services the Indian market and exports packaging product to more than 30 countries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-12 Nortech Packaging

Schaumburg, Illinois, United States

Nortech Packaging specializes in both delivering and providing after-market servicing of world-class packaging machines designed for cartooning, case-packing, case-erecting, pouch-packaging, palletizing and other custom-infeed and robotic solutions for various packaging applications. Nortech designs and manufactures high-quality, high-efficiency packaging machinery, and packaging systems that are used worldwide in most major industries including food, pharmaceutical, eCommerce, confections, personal care and cosmetics, beverage, and many others.

Buy $37M

Seller(S) 1

SELLER

Glencoe Capital

Chicago, Illinois, United States

Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Glencoe Capital is a private equity firm that invests in leveraged buyouts and recapitalizations of middle-market companies. Glencoe consists of Glencoe Capital Partners Funds which seeks North American businesses valued between $25 million and $125 million, and the Michigan Opportunities Fund which looks to invest in recapitalizations, buyouts, and growth equity transactions in Michigan. Sectors of interest include business and media services, financial services, food and consumer products, and industrials. Glencoe prefers platform companies to have at least $30 million of sales and EBITDA of at least $3 million. Glencoe Capital was formed in 1993 and is a unit of Leoville Holdings, an alternative investment manager. Glencoe Capital is based in Chicago with an additional office in Birmingham, Michigan.


DEAL STATS #
Overall 13 of 13
Sector (Plastics) 1 of 1
Type (Add-on Acquisition) 6 of 6
State (Ontario) 2 of 2
Country (Canada) 2 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-11 Fusion Education Group

Grand Rapids, Michigan, United States

Fusion Education Group operates private middle and high schools that offer individualized instruction. Classes at Fusion are delivered by one teacher to one student through a mastery-based learning model, which enables each session to be attuned to that student's specific learning cadence and style. The Fusion approach to learning is effective for all students, however, it is used most frequently by students who did not achieve full potential at his or her prior school due to, among other factors, challenges with group instruction stemming from anxiety, depression, ADHD or different learning styles. Fusion Education Group is based in Grand Rapids, Michigan.

Sell -