M&A Deal Summary

Astara Capital Partners and Fidus Investment Acquire Garlock Printing & Converting

On January 28, 2021, private equity firm Astara Capital Partners and business development company Fidus Investment acquired packaging company Garlock Printing & Converting

Acquisition Highlights
  • This is Astara Capital Partners’ 1st and Fidus Investment’s 1st transaction in the Packaging sector.
  • This is Astara Capital Partners’ 1st and Fidus Investment’s 17th transaction in the United States.
  • This is Astara Capital Partners’ 1st and Fidus Investment’s 2nd transaction in Massachusetts.

M&A Deal Summary

Date 2021-01-28
Target Garlock Printing & Converting
Sector Packaging
Buyer(s) Astara Capital Partners
Fidus Investment
Deal Type Buyout (LBO, MBO, MBI)

Target

Garlock Printing & Converting

Gardner, Massachusetts, United States
Garlock Printing & Converting is a full-service flexible packaging converter that provides solutions for a wide variety of food, consumer and industrial applications. Garlock Printing & Converting was founded in 1987 and is based in Gardner, Massachusetts.

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Buyer(S) 2

DESCRIPTION

Astara Capital Partners is a private investment firm focused on acquiring and investing in mid-sized companies throughout North America. Astara looks to commit $10 to $100 million in businesses valued up to $250 million. Sectors of interest include aerospace/defense, building products, business services, energy services, forest products, niche manufacturing, food, and packaging. Astara Capital Partners was established in 2020 and is headquartered in New York City.


DEAL STATS #
Overall 1 of 6
Sector (Packaging) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 4
State (Massachusetts) 1 of 1
Country (United States) 1 of 6
Year (2021) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Cross City Lumber

Cross City, Florida, United States

Cross City Lumber is a Southern yellow pine sawmill that manufactures specialty and dimensional grades of lumber. Cross City Lumber is based in Cross City, Florida.

Buy -
DESCRIPTION

Fidus Investment Corp. is a business development company that looks to provide financing solutions for small to mid-sized companies with $10 to $150 million in revenue. Fidus looks to invest mezzanine debt, senior secured debt and equity in businesses with proven business models, leading market positions, high free cash flow, and strong management teams. Industries of interest include business services, industrial products, value-added distribution, healthcare products/services, consumer products, consumer services, aerospace/defense, energy services, transportation, government IT, and niche manufacturing. Fidus Investment Corp. is based in Evanston, Illinois.


DEAL STATS #
Overall 17 of 17
Sector (Packaging) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 5
State (Massachusetts) 2 of 2
Country (United States) 17 of 17
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-22 BCC Software

Rochester, New York, United States

BCC Software LLC is a provider of software and data solutions designed to enhance direct mail processing and facilitate efficient, cost-effective multi-channel marketing. The company provides USPS®-certified mail preparation software with integrated functionality to correct address data, perform matching and consolidation, and to sequence mailing lists for postal discounts, through on-premise, cloud-based and API solutions. BCC Software was founded in 1978 and is based in Rochester, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-18 Flight Display Systems

Alpharetta, Georgia, United States

Flight Display Systems is a designer, developer, and light manufacturer of avionics focusing on cabin electronics for business and commercial aircraft and ruggedized special mission monitors and other retrofit solutions for military aircraft. Flight Display Systems was formed in 2001 and is based in Alpharetta, Georgia.

Sell -