Add-on Acquisition • Packaging

McKinley Acquires Midwest Paper Group

On February 8, 2022, McKinley acquired packaging company Midwest Paper Group from Industrial Opportunity Partners and Yukon Partners

Acquisition Context
  • This is McKinley’s 1st transaction in the Packaging sector.
  • This is McKinley’s 1st transaction in the United States.
  • This is McKinley’s 1st transaction in Wisconsin.

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M&A Deal Summary

Date February 8, 2022
Target Midwest Paper Group
Sector Packaging
Buyer(s) McKinley
Sellers(s) Industrial Opportunity Partners
Yukon Partners
Deal Type Add-on Acquisition

Target Company

Midwest Paper Group

Combined Locks, Wisconsin, United States
Midwest Paper Group is a manufacturer and distributor of recycled containerboard, natural kraft & bleached packaging, and printing & writing grades. Midwest Paper was founded in 1889 and is based in Combined Locks, Wisconsin.
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Buyer Overview 1

Buyer

McKinley

Dallas, Texas, United States

Category Company
Sector Packaging
DESCRIPTION

McKinley is an integrated paper and packaging company that is a manufacturer of paper and paper products in Mexico and Latin America. McKinley is based in Dallas, Texas.


Deal Context for Buyer #
Overall 1 of 1
Sector: Packaging 1 of 1
Type: Add-on Acquisition 1 of 1
State: Wisconsin 1 of 1
Country: United States 1 of 1
Year: 2022 1 of 1

Seller Profiles 2

SELLER

Industrial Opportunity Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Industrial Opportunity Partners is a private equity firm focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. IOP looks to invest $15 to $100 million in companies with revenues between $50 and $500 million with an EBITDA of $5 to $50 million. Sectors of interest include building products, electronics, foundry, and casting products, precision machining, stamped and fabricated products, automotive components and steel/metal processing. IOP has a particular investment focus on enhancing the operations and optimizing the cost structures of businesses. Industrial Opportunity Partners was formed in 2005 and is based in Evanston, Illinois.


Deal Context for Seller #
Overall 22 of 23
Sector: Packaging 3 of 3
Type: Add-on Acquisition 14 of 15
State: Wisconsin 5 of 5
Country: United States 20 of 21
Year: 2022 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Brewster Home Fashions

Randolph, Massachusetts, United States

Brewster Home Fashions is a designer, supplier, and manufacturer of “Do It Yourself” peel & stick wallpaper, peel & stick flooring, traditional wallpaper, home décor, decals, and additional products for the residential market in the U.S. and internationally. Brewster Home Fashions is based in Randolph, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-29 Viaflex

Sioux Falls, South Dakota, United States

Viaflex is a manufacturer and supplier of highly engineered polymer films and sheeting to major markets throughout the United States and abroad. Viaflex is dedicated to developing targeted product solutions that solve precise application challenges integrating sustainable environmental design practices for long-range performance. Viaflex is based in Sioux Falls, South Dakota.

Buy $350M
SELLER

Yukon Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2008
PE ASSETS 640M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Yukon Partners is a mezzanine finance firm that works with private equity sponsors to fund a variety of investment situations. Yukon looks to invest $10 to $40 million to support buyouts, recapitalizations, take privates, and refinancings. Sectors of interest include automotive, building products, business services, consumer products, food/beverages, healthcare products/services, industrial manufacturing, niche manufacturing, and transportation/logistics. Prospective companies generally have revenues of $30 to $500 million and are profitable with EBITDA of $5 to $50 million. Yukon Partners was formed in 2008 and is based in Minneapolis, Minnesota.


Deal Context for Seller #
Overall 23 of 29
Sector: Packaging 2 of 2
Type: Add-on Acquisition 7 of 8
State: Wisconsin 2 of 2
Country: United States 22 of 28
Year: 2022 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Black Diamond Networks

Andover, Massachusetts, United States

Black Diamond Networks provides contract professionals to companies in the life sciences, engineering, and information technology sectors. Industries served include pharmaceutical, medical devices, biotechnology, aerospace, automotive, avionics, electronics, industrial equipment, military/defense, networking and communications, semiconductor, and telecommunications. Black Diamond Networks was founded in 1999 and is based in Andover, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 Stonewall Kitchen

York, Maine, United States

Stonewall Kitchen is a specialty food and home goods producer selling jams and jellies at local farmers' markets with a flavorful line of distinctive and high-quality products. Stonewall expanded the brand to include sauces, condiments, crackers, and baking mixes, always focusing on innovative product development, beautiful packaging, and exceptional guest service. Stonewall Kitchen was founded in 1991 and is based in York, Maine.

Sell -