M&A Deal Summary

Sigma Plastics Group Acquires ISO Poly Film

On February 25, 2009, Sigma Plastics Group acquired plastics company ISO Poly Film from Azalea Capital and Capitala Group

Acquisition Highlights
  • This is Sigma Plastics Group’s 1st transaction in the Plastics sector.
  • This is Sigma Plastics Group’s 1st transaction in the United States.
  • This is Sigma Plastics Group’s 1st transaction in South Carolina.

M&A Deal Summary
Date 2009-02-25
Target ISO Poly Film
Sector Plastics
Buyer(s) Sigma Plastics Group
Sellers(s) Azalea Capital
Capitala Group
Deal Type Add-on Acquisition
Advisor(s) Verit Advisors LLC (Financial)

Target

ISO Poly Film

Gray Court, South Carolina, United States
ISO Poly Films offers highly automated plastics film extrusion facility including an additional 100,000 square feet of warehouse space.

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Buyer(S) 1

Buyer

Sigma Plastics Group

Pompano Beach, Florida, United States
Category Company
Founded 1978
Sector Plastics
DESCRIPTION
Sigma Plastics' corporate headquarters in Pompano Beach, Florida.
Sigma Plastics' corporate headquarters in Pompano Beach, Florida.

Sigma Plastics Group manufactures a variety of flexible packaging products servicing the industrial, agricultural, food, medical, retail, hygienic, and converter film markets. Sigma Plastics Group was established in 1978 and is based in Pompano Beach, Florida.

DEAL STATS #
Overall 1 of 3
Sector (Plastics) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (South Carolina) 1 of 1
Country (United States) 1 of 2
Year (2009) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-07 FlexSol Packaging

Pompano Beach, Florida, United States

Manufacturer of extruded plastic films and bags that serve the food and beverage, industrial, packaging and health care markets. Capital Investors invested subordinated debt and equity in the leveraged recapitalization of FlexSol to provide liquidity to founders and growth capital.

Buy -

Seller(S) 2

SELLER

Azalea Capital

Greenville, South Carolina, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Azalea Capital is a private investment firm focused on providing equity capital to privately owned middle-market companies located in the Southeast US. Prospective transaction situations include management buyouts, divestitures, recapitalizations, and growth financings. Target companies typically have at least $10 million in revenue and are profitable with up to $8 million of EBITDA. Sectors of interest include niche manufacturing, value-added distribution, business services, consumer products, and healthcare. Azalea was formed in 1995 and is based in Greenville, South Carolina.

DEAL STATS #
Overall 3 of 15
Sector (Plastics) 1 of 1
Type (Add-on Acquisition) 1 of 5
State (South Carolina) 1 of 5
Country (United States) 3 of 15
Year (2009) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-07 ETAK Systems

Charlotte, North Carolina, United States

ETAK Systems is an outsourced service provider to wireless carriers for scheduled maintenance and installation activities for wireless communication infrastructures in six primary regions throughout the U.S. ETAK’s wireless communication infrastructure services include reserve battery power installation/replacement, power plant upgrades, and capacity-expanding radio installations for carriers. Specializing in services related to communication infrastructure, ETAK also offers site reviews, location analysis, engineering audits, battery testing, small cell, and distributed antenna system installation. ETAK Systems was founded in 1997 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-09 Sage Automotive Interiors

Greenville, South Carolina, United States

Sage Automotive Interiors, Inc. is a provider of an automotive bodycloth, including a range of knit and woven technical textiles, to many of the world's leading automobile manufacturers. Sage has global offices and manufacturing locations in the U.S., Brazil, United Kingdom, China, Korea and Japan and has contract manufacturing relationships worldwide.

Buy -
SELLER

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 5 of 53
Sector (Plastics) 1 of 1
Type (Add-on Acquisition) 1 of 17
State (South Carolina) 1 of 4
Country (United States) 4 of 52
Year (2009) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-13 American Exteriors

Denver, Colorado, United States

American Exteriors is a manufacturer and marketer of custom-built, vinyl-framed replacement windows to existing homes in the Rocky Mountain region. American Exteriors is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-01 Sparus

Peachtree Corners, Georgia, United States

Sparus is a provider of outsourced utility field services and project management outsourcing services through its wholly-owned subsidiaries, Southern Cross Corporation and The Spear Group. Sparus was founded in 1946 and is based in Peachtree Corners, Georgia.

Buy -
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