M&A Deal Summary

May River Capital and Twin Brook Capital Partners Acquire PaperTech

On December 8, 2020, private equity firm May River Capital and mezzanine finance firm Twin Brook Capital Partners acquired packaging company PaperTech

Acquisition Highlights
  • This is May River Capital’s 1st and Twin Brook Capital Partners’ 1st transaction in the Packaging sector.
  • This is May River Capital’s 11th and Twin Brook Capital Partners’ 14th transaction in the United States.
  • This is May River Capital’s 4th and Twin Brook Capital Partners’ 3rd transaction in Ohio.

M&A Deal Summary

Date 2020-12-08
Target PaperTech
Sector Packaging
Buyer(s) May River Capital
Twin Brook Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Amherst Partners (Financial)
Seyburn Kahn (Legal)

Target

PaperTech

Findlay, Ohio, United States
PaperTech is a manufacturer of paperboard packaging products for major food brands, contract food packagers, food service operations, as well as for commercial bakeries, quick-serve restaurants, and “take-and-bake” pizza companies. PaperTech was founded in 1999 and is based in Findlay, Ohio.

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Buyer(S) 2

Buyer

May River Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

May River Capital is a Midwest US-based private equity firm focused primarily on control investments in profitable mid-sized companies located throughout North America. The Firm targets management buyouts, divestitures, recapitalizations, and ownership succession situations. Prospective companies generally have at least $3 million of EBITDA and valued up to $150 million. Sectors of interest include manufacturing, distribution, energy services, industrial, and non-branded consumer goods. May River Capital was founded in 2012 and is based in Chicago.


DEAL STATS #
Overall 11 of 18
Sector: Packaging M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 9
State: Ohio M&A 4 of 4
Country: United States M&A 11 of 18
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-15 NSL Analytical Services

Cleveland, Ohio, United States

NSL Analytical Services is an independent, commercial materials testing laboratory. NSL Analytical services comprise a broad spectrum of analytical testing for quality control, failure analysis, product performance, and material selection and characterization including 3D Metals Material Testing, Inorganic Trace Element Analysis, 3D Metals Material Testing Inorganic Trace Element Analysis Metallurgical Evaluations Mechanical Testing Microscopy Evaluations Lead, and Phthalates Testing. NSL Analytical Services was founded in 1945 and is based in Cleveland, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 Unibloc

Kennesaw, Georgia, United States

Unibloc provides manufacturers in the food and beverage, pharmaceutical, bakery and confection, meat and poultry, brewery, and transportation industries with precision-engineered sanitary pumps, strainers, valves, bubble traps, and other accessory products to tackle the toughest sanitary jobs. Unibloc was founded in 1984 and is based in Kennesaw, Georgia.

Buy -
Buyer
DESCRIPTION

Twin Brook Capital Partners is a provider of senior financing to small and mid-sized profitable companies. The Firm looks to offer a variety of credit and equity solutions including revolvers, senior loans, unitranche loans, mezzanine financing, and equity co-investment to US-based companies with $3 to $50 million in EBITDA. Target sectors include industrial, manufacturing, business services, financial services, insurance, aerospace/defense, distribution, healthcare, and software/tech enabled services. Twin Brook Capital Partners is based in Chicago, Illinois.


DEAL STATS #
Overall 14 of 26
Sector: Packaging M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 5
State: Ohio M&A 3 of 3
Country: United States M&A 14 of 25
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-17 Empire Equipment

Goldsboro, North Carolina, United States

Empire Equipment is a wholesale distributor of commercial foodservice equipment and genuine OEM parts into diverse markets, including food service equipment dealers, service organizations, buying groups, and national chain accounts. Empire Equipment was founded in 1985 and is based in Goldsboro, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-04 Leonard

Mount Airy, North Carolina, United States

Leonard is a full-service retailer of truck accessories, trailers, and sheds in the United States. The Company offers high-quality, complementary, specialized products geared towards professionals, do-it-yourself and do-it-for-me consumers, and truck enthusiasts. Leonard’s sheds are manufactured in the Company’s Mount Airy, North Carolina facility and its trailers are contract manufactured in the United States. Leonard was founded in 1963 and is based in Mount Airy, North Carolina.

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