Secondary Buyout • Packaging

The Gladstone Companies Acquires Frontier Packaging

On December 5, 2012, lender The Gladstone Companies acquired packaging company Frontier Packaging from NCA Partners

Acquisition Context
  • This is The Gladstone Companies’ 2nd transaction in the Packaging sector.
  • This is The Gladstone Companies’ 10th transaction in the United States.
  • This is The Gladstone Companies’ 2nd transaction in Washington.
Investment Fate
  • Frontier Packaging was sold to a consortium of financial buyers in 2021.

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M&A Deal Summary

Date December 5, 2012
Target Frontier Packaging
Sector Packaging
Buyer(s) The Gladstone Companies
Sellers(s) NCA Partners
Deal Type Secondary Buyout
Advisor(s) Zachary Scott Investment Bankers (Financial)

Target Company

Frontier Packaging

Tukwila, Washington, United States
Frontier Packaging is a provider of packaging materials and related logistics to the Alaskan seafood industry. Frontier Packaging was founded in 1985 and is based in Tukwila, Washington.
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Buyer Overview 1

Buyer

The Gladstone Companies

Investor Investor Investor Investor Investor


Category Lender
Founded 2001
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Gladstone Companies manages a series of publicly traded investment vehicles and looks to make debt and equity investments in US-based small to middle-market businesses. The Firm focuses on second lien debt, mezzanine debt, secured and unsecured subordinated loans, equity and real estate sale leasebacks. Target investments generally range from $5 to $30 million in companies with over $3 million in EBITDA. Target sectors include manufacturing, industrial products, business and government Services, media, communications, consumer products and services, healthcare services, transportation, specialty chemicals, and energy services. The Gladstone Companies was formed in 2001 and is based in McLean, Virginia.


Deal Context for Buyer #
Overall 10 of 23
Sector: Packaging 2 of 2
Type: Secondary Buyout 5 of 7
State: Washington 2 of 2
Country: United States 10 of 23
Year: 2012 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-27 Drew Foam

Monticello, Arkansas, United States

Drew Foam is a provider of custom-fabricated expanded polystyrene foam ("EPS") products serving the packaging, building products, and consumer end-markets, primarily in the Southeastern United States. Drew Foam was founded in 1965 and is based in Monticello, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-26 Ag Trucking

Goshen, Indiana, United States

Ag Trucking is a regional food-grade liquid and dry bulk carrier. Ag Trucking was founded in 1978 and is based in Goshen, Indiana.

Buy -

Seller Profile 1

SELLER

NCA Partners

Seattle, Washington, United States

Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

NCA Partners, Inc. is an investor in small and mid-sized companies operating in the Northwest US. The Firm invests in companies with $10 to $100 million in revenues and valued up to $250 million. Areas of interest include business services, consumer products/services, financial services, manufacturing, nature technology, media and transportation. NCA will consider a variety of transaction situations, including, buyouts, consolidations, turnarounds, recapitalizations and growth capital financings. NCA Partners, Inc. formerly known as Northwest Capital Appreciation, Inc. was formed in 1992 and is based in Seattle, Washington.


Deal Context for Seller #
Overall 2 of 5
Sector: Packaging 1 of 1
Type: Secondary Buyout 1 of 1
State: Washington 1 of 3
Country: United States 2 of 4
Year: 2012 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-04 Maxum Petroleum

Greenwich, Connecticut, United States

Maxum Petroleum, Inc. is a provider of logistics and energy management services in the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-16 PTW Energy Services

Calgary, Alberta, Canada

PTW Energy Services is an energy services company providing electrical and instrumentation, and building fabrication services to the energy, engineering, and construction clients operating across growing markets in Canada, the United States, Southeast Asia, and the Middle East. PTW Energy Services was founded in 2014 and is based in Calgary, Alberta.

Buy -