M&A Deal Summary

Specialized Packaging Group Acquires Complete Packaging

On March 15, 2024, Specialized Packaging Group acquired packaging company Complete Packaging from Spell Capital Partners

Acquisition Highlights
  • This is Specialized Packaging Group’s 4th transaction in the Packaging sector.
  • This is Specialized Packaging Group’s 4th transaction in the United States.
  • This is Specialized Packaging Group’s 2nd transaction in Michigan.

M&A Deal Summary

Date 2024-03-15
Target Complete Packaging
Sector Packaging
Buyer(s) Specialized Packaging Group
Sellers(s) Spell Capital Partners
Deal Type Add-on Acquisition

Target

Complete Packaging

Monroe, Michigan, United States
Complete Packaging is a provider of precision-engineered and customizable packaging solutions primarily to automotive and industrial markets. Complete Packaging was founded in 1979 and is based in Monroe, Michigan.

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Buyer(S) 1

Buyer

Specialized Packaging Group

Oakland, Connecticut, United States

Category Company
Founded 1983
Sector Packaging
DESCRIPTION

Specialized Packaging Group is a vertically-integrated provider of protective packaging products that operates under two divisions, IVEX and Engineered Packaging. Specialized Packaging Group was founded in 1983 and is based in Oakland, California.


DEAL STATS #
Overall 4 of 5
Sector (Packaging) 4 of 5
Type (Add-on Acquisition) 4 of 5
State (Michigan) 2 of 2
Country (United States) 4 of 5
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-05 PPS Packaging

Cincinnati, Ohio, United States

PPS Packaging is a designer and fabricator of custom-engineered packaging solutions for applications across a diverse array of end markets and a nationwide customer base. PPS Packaging was founded in 1982 and is based in Cincinnati, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-21 Clark Foam

Bolingbrook, Illinois, United States

Clark Foam provides custom-designed packaging solutions for end markets, including healthcare and medical, consumer products, energy, technology and semiconductors, defense, heavy equipment, and general industrial materials. Clark Foam was formed in 1951 and is based in Bolingbrook, Illinois.

Buy -

Seller(S) 1

SELLER

Spell Capital Partners

Edina, Minnesota, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spell Capital Partners is a private equity firm that targets control investments in lower middle-market manufacturing and distribution businesses. Spell targets companies with at least $5 million in annual revenues and minimum EBITDA of $1 million. The Firm's target equity investment size range is $2 to $15 million. Spell prefers opportunities located in the upper-midwestern states of Minnesota, Iowa, Wisconsin, North Dakota, South Dakota, Indiana, Illinois, and Nebraska. Spell Capital Partners was formed in 1988 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 34 of 35
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 19 of 20
State (Michigan) 2 of 2
Country (United States) 34 of 35
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-13 Pearson’s

St. Paul, Minnesota, United States

Pearson’s is a manufacturer and marketer of Pearson's Salted Nut Roll, Pearson's Mint Patties, Pearson's Nut Goodies, and Pearson's Bun confectionery brands. Pearson’s was founded in 1909 and is based in St. Paul, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-18 All Star Corrugated

Fort Worth, Texas, United States

All Star Corrugated is a custom, flexible, quick-turn provider of corrugated packaging to the Dallas/Fort Worth (“DFW”) market. It operates out of 78,000 square feet of manufacturing and warehouse space and works closely with each client and product to develop custom packaging solutions to deliver superior box and wrapping solutions at competitive prices. All Star Corrugated was formed in 1983 and is based in Fort Worth, Texas.

Buy -