M&A Deal Summary

Novolex Acquires Wisconsin Film & Bag

On October 1, 2015, Novolex acquired packaging company Wisconsin Film & Bag from Marquette Capital Partners, First Capital Partners and Argosy Private Equity

Acquisition Highlights
  • This is Novolex’s 4th transaction in the Packaging sector.
  • This is Novolex’s 3rd transaction in the United States.
  • This is Novolex’s 1st transaction in Wisconsin.

M&A Deal Summary
Date 2015-10-01
Target Wisconsin Film & Bag
Sector Packaging
Buyer(s) Novolex
Sellers(s) Marquette Capital Partners
First Capital Partners
Argosy Private Equity
Deal Type Add-on Acquisition
Advisor(s) William Blair (Financial)
Reinhart Boerner Van Deuren (Legal)

Target

Wisconsin Film & Bag

Shawano, Wisconsin, United States
Wisconsin Film and Bag produces custom polyethylene bags and film for the flexible packaging industry.

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Buyer(S) 1

Buyer

Novolex

Hartsville, South Carolina, United States
Category Company
Founded 2003
Sector Packaging
DESCRIPTION

Novolex is a manufacturer of paper and plastic flexible packaging products. Novolex serves customers across foodservice, grocery, retail, and industrial end markets with a diverse product portfolio including retail and specialty bags, food packaging products, and a broad range of specialty films and laminated products. Novolex was founded in 2003 and is headquartered in Hartsville, South Carolina.

DEAL STATS #
Overall 4 of 13
Sector (Packaging) 4 of 10
Type (Add-on Acquisition) 4 of 12
State (Wisconsin) 1 of 1
Country (United States) 3 of 11
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-10 Packaging Dynamics

Chicago, Illinois, United States

Packaging Dynamics Corporation produces coated paper packaging and other products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-04 Heritage Bag

Roanoke, Texas, United States

Heritage Bag Co. is a manufacturer of plastic can liners and other packaging products. Heritage Bag Co. was founded in 1973 and is based in Roanoke, Texas.

Buy -

Seller(S) 3

SELLER

Marquette Capital Partners

St. Louis Park, Minnesota, United States

Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 258M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Marquette Capital Partners (MCP) is a private investment focused on junior capital investments in mature lower-middle market companies. MCP looks to invest $2 to $10 million per transaction to support growth, recapitalization, or change of control transactions. Prospective companies are typically manufacturers of consumer or industrial products, value-added distributors, business to business service companies, and retail businesses. MCP will not invest in start-ups, early stage venture capital, or real estate businesses. The firm is an affiliate of Marquette Financial Companies, a multibillion dollar financial services firm. Marquette Capital Partners was formed in 1997 and is based in Minneapolis, Minnesota, with an additional office in Chicago, Illinois.

DEAL STATS #
Overall 12 of 17
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 5 of 8
State (Wisconsin) 1 of 1
Country (United States) 12 of 17
Year (2015) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 AbelConn

New Hope, Minnesota, United States

AbelConn LLC manufactures backplane assemblies and interconnects products for the aerospace and military markets. AbelConn was founded in 1997 and is based in New Hope, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-02 Schaefer Ventilation Equipment

Sauk Rapids, Minnesota, United States

Schaefer Ventilation Equipment LLC provides ventilation, cooling, and heating solutions for the agricultural, horticultural and commercial markets. Marquette supported VCI Capital, the White family's investment arm, in its acquisition of Schaefer.

Sell -
SELLER

First Capital Partners

Omaha, Nebraska, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2006
PE ASSETS 241M USD
Size Small
Type Sector Agnostic
DESCRIPTION

First Capital Partners is an Omaha, Nebraska-based private investment firm that provides equity and subordinated debt financing to lower middle-market companies. First targets businesses with revenues of $10 to $100 million and EBITDA up to $10 million. Investments are generally used to fund management buyouts, growth capital financings, recapitalizations, divestitures, and generational transfers of ownership. Broad areas of interest include manufacturing, business services, and value-added distribution. First Capital will not invest in startups, early stage companies, high technology, real estate, or retail. First Capital Partners is based in US.

DEAL STATS #
Overall 3 of 15
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 1 of 8
State (Wisconsin) 2 of 4
Country (United States) 3 of 15
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-01 Global Precision Products

Rush, New York, United States

Global Precision Products is a contract manufacturer of tight tolerance, precision machined components. Along with precision machining, it offers material sourcing, new product introduction processes and product validations, and build-to-stock inventories and logistics. Global Precision Products was founded in 1997 and is based in Rush, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Digital Dental

Scottsdale, Arizona, United States

Digital Dental is a technology provider of advanced milling solutions to dental labs worldwide to manufacture crowns, bridges, and dentures. Dental Digital offers its proprietary family of DentMill advanced CAD/CAM milling machines along with its Crystal brand of zirconia and advanced hybrid consumable discs. Dental Digital also offers a wide range of associated products such as sintering ovens, digital scanners, milling tools, wax discs, and post-sintering coloring solutions. Digital Dental was founded in 1977 and is based in Scottsdale, Arizona.

Buy -
SELLER

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.

DEAL STATS #
Overall 25 of 53
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 18 of 38
State (Wisconsin) 2 of 2
Country (United States) 25 of 53
Year (2015) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-08 Parker School Uniforms

Houston, Texas, United States

Parker School Uniforms LLC is a provider of premium school uniforms to private and charter schools across the Sunbelt region of the United States including Texas, California, Oklahoma, Kansas, Alabama, Mississippi, Georgia, Tennessee, and Kentucky. Parker School Uniforms was founded in 1931 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-13 Great Western Trailer

San Francisco, California, United States

Great Western Trailer is a full-service, integrated solutions provider to the flatbed and specialized trailer industry. Great Western Trailer was founded in 1997 and is based in San Francisco, California.

Buy -
Mergr

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