Going Private • Packaging

Clearlake Capital Acquires IPG

On March 8, 2022, private equity firm Clearlake Capital acquired packaging company IPG for 2.6B USD

Acquisition Context

This is Clearlake Capital’s 2nd transaction in the Packaging sector.
This is Clearlake Capital’s 6th largest (disclosed) transaction.
This is Clearlake Capital’s 75th transaction in the United States.
This is Clearlake Capital’s 4th transaction in Florida.

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M&A Deal Summary
Date	March 8, 2022
Target	IPG
Sector	Packaging
Buyer(s)	Clearlake Capital
Deal Type	Going Private
Deal Value	2.6B USD
Advisor(s)	Morgan Stanley National Bank Financial (Financial) Paul, Weiss, Rifkind, Wharton & Garrison Fasken Martineau DuMoulin (Legal)

Target Company

IPG

Sarasota, Florida, United States

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 Sarasota, Florida.

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Buyer Overview 1

Buyer

Clearlake Capital

Santa Monica, California, United States

Category	Private Equity Firm
Founded	2006
PE ASSETS	90.0B 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 Context for Buyer	#
Overall	78 of 93
Sector: Packaging	2 of 2
Type: Going Private	6 of 8
State: Florida	4 of 7
Country: United States	75 of 88
Year: 2022	1 of 9
Size (of disclosed)	6 of 16

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2021-12-13	That’s How We Roll Montclair, New Jersey, United States That’s How We Roll is a producer and marketer of ParmCrisps and Thinsters, two fast-growing, better-for-you brands offering delicious, convenient products. That’s How We Roll is based in Montclair, New Jersey.	Sell	-

DATE

TARGET

DEAL TYPE

VALUE

2021-12-13

That’s How We Roll

Montclair, New Jersey, United States

That’s How We Roll is a producer and marketer of ParmCrisps and Thinsters, two fast-growing, better-for-you brands offering delicious, convenient products. That’s How We Roll is based in Montclair, New Jersey.

Sell

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2022-03-09	Discovery Education Charlotte, North Carolina, United States Discovery Education with its state-of-the-art digital platform supports learning wherever it takes place. Through its multimedia content, instructional supports, and innovative classroom tools, the company helps educators deliver equitable learning experiences engaging all students and supporting higher academic achievement on a global scale. It serves approximately 4.5 million educators and 45 million students worldwide, and its resources are accessed in nearly 100 countries and territories. Discovery Education was founded in 2001 and is based in Charlotte, North Carolina.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2022-03-09

Discovery Education

Charlotte, North Carolina, United States

Discovery Education with its state-of-the-art digital platform supports learning wherever it takes place. Through its multimedia content, instructional supports, and innovative classroom tools, the company helps educators deliver equitable learning experiences engaging all students and supporting higher academic achievement on a global scale. It serves approximately 4.5 million educators and 45 million students worldwide, and its resources are accessed in nearly 100 countries and territories. Discovery Education was founded in 2001 and is based in Charlotte, North Carolina.

Buy

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