M&A Deal Summary

Wynnchurch Capital and GarMark Partners Acquire FCA Packaging

On July 21, 2022, private equity firm Wynnchurch Capital and mezzanine finance firm GarMark Partners acquired packaging company FCA Packaging from Delos Capital, Brookside Capital Partners and Graycliff Partners

Acquisition Highlights
  • This is Wynnchurch Capital’s 6th and GarMark Partners’ 2nd transaction in the Packaging sector.
  • This is Wynnchurch Capital’s 51st and GarMark Partners’ 31st transaction in the United States.
  • This is Wynnchurch Capital’s 4th and GarMark Partners’ 4th transaction in Illinois.

M&A Deal Summary
Date 2022-07-21
Target FCA Packaging
Sector Packaging
Buyer(s) Wynnchurch Capital
GarMark Partners
Sellers(s) Delos Capital
Brookside Capital Partners
Graycliff Partners
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)

Target

FCA Packaging

Moline, Illinois, United States
FCA Packaging is a provider of custom industrial packaging that includes wood, steel, corrugated and hybrid products, as well as expendable, reusable, and returnable solutions. FCA Packaging was founded in 1985 and is based in Moline, Illinois.

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Buyer(S) 2

Buyer

Wynnchurch Capital

Rosemont, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 9.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wynnchurch Capital is a private equity firm focused on middle-market company investments in the US and Canada. Wynnchurch looks to commit $50 to $750 million of equity per platform. Sectors of interest include manufacturing, business services, logistics, energy and power services, and value-added distribution. Prospective transaction types include management buyouts, recapitalizations, corporate carve-outs, restructurings, turnarounds and growth capital situations. Wynnchurch Capital was formed in 1999 and is based in Rosemont, Illinois.

DEAL STATS #
Overall 63 of 72
Sector (Packaging) 6 of 6
Type (Secondary Buyout) 12 of 18
State (Illinois) 4 of 5
Country (United States) 51 of 60
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-01 Premier Franchise Management

Franklin, Tennessee, United States

Premier Franchise Management is a residential pool-build and pool-service franchisor. Premier Franchise Management added 30 build franchise locations and 17 service franchise locations, bringing its current number of franchise locations to 140. Premier Franchise Management was founded in 1988 and is based in Franklin, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-26 Foss Floors

Rome, Georgia, United States

Foss Floors is a manufacturer of specialty engineered fibers. Foss develops innovative non-woven, environmentally friendly, and anti-microbial fiber solutions for a wide variety of industries and applications, including commercial, residential, municipal/civil, craft/hobby, marine, and medical. Foss was on a strong growth trajectory and sought to partner with an operationally focused investor to support its long-term growth plan. Foss Floors is based in Rome, Georgia.

Sell -
Buyer

GarMark Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GarMark Partners is a private investment firm that makes debt and equity investments in a wide range of companies. The Firm invests in businesses at various stages of development to facilitate acquisitions, divestitures, recapitalizations, turnarounds or growth. Garmark typically invests between $5 and $30 million with an EBITDA $3 and $25 million. The firm prefers to invest in the sectors of manufacturing/industrial products, distribution, business services, consumer brands, food/nutrition products, transportation, healthcare, retail, and restaurants. GarMark Partners was formed in 1997 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 33 of 34
Sector (Packaging) 2 of 2
Type (Secondary Buyout) 6 of 7
State (Illinois) 4 of 4
Country (United States) 31 of 32
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-21 Dutchland Plastics

Oostburg, Wisconsin, United States

Dutchland Plastics is a provider of custom rotational molding services and related secondary operations to a wide range of customers across a diverse cross section of markets including, but not limited to, recreational equipment, industrial equipment, and lawn and garden. Dutchland Plastics was founded in 1967 and is based in Oostburg, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-16 Stratix

Norcross, Georgia, United States

Stratix is a provider of outsourced Managed Mobile Service (MMS) solutions for many of the largest global brands within the retail, manufacturing, transportation and field service industries. Stratix has evolved from a data capture consulting services company to one of the largest national MMS providers with a comprehensive mobile service portfolio. The company leverages deep industry expertise, expansive service offerings and mobile specialization to provide consulting, deployment, software, 24x7 support and asset management services for the enterprise mobile workforce. Stratix was founded in 1983 and is based in Norcross, Georgia.

Buy -

Seller(S) 3

SELLER

Delos Capital

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

Delos Capital LLC is a private equity firm that partners with strong management teams and strategic owners to invest in lower middle market companies. Delos Capital LLC was founded in 2013 and is based in New York, New York.

DEAL STATS #
Overall 3 of 4
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Illinois) 1 of 1
Country (United States) 3 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-28 Pioneer Recycling Services

Tacoma, Washington, United States

Pioneer Recycling Services is an operator of non-hazardous recycling and solid waste company in the Pacific Northwest. Pioneer Recycling’s collections centers focus on providing reliable environmental services and solutions for commercial, industrial, municipal, and residential customers. Pioneer Recycling Services was founded in 2014 and is based in Tacoma, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-05 Le Sueur

Le Sueur, Minnesota, United States

Le Sueur is a supplier of complex precision aluminum castings and plastic injection molded components. Le Sueur was founded in 1946 and is based in Le Sueur, Minnesota.

Buy -
SELLER

Brookside Capital Partners

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Brookside Capital Partners is an investment management firm focused on stable lower-middle market companies in the US. The Firm typically commits $5 to $30 million per transaction to support buyouts, leveraged recapitalizations, strategic acquisitions and growth. Potential businesses generally have revenue greater than $15 million, and EBITDA of at least $4 million. Industries of interest include business services, consumer, distribution, healthcare, manufacturing, and transportation and logistics. Brookside Capital Partners was established in 2001 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 18 of 24
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 11 of 13
State (Illinois) 2 of 2
Country (United States) 18 of 24
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-30 Elevation Labs

Idaho Falls, Idaho, United States

Elevation Labs is a formulator and manufacturer of innovative skincare and color cosmetic products for prestige beauty brands. Elevation Labs is a rapidly growing manufacturer of high-quality personal care products with unique capabilities in the formulation of natural and organic products. Elevation Labs was founded in 1995 and is based in Idaho Falls, Idaho.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Enhanced Resource Centers

Jacksonville, Florida, United States

Enhanced Resource Centers is a provider of customer experience management solutions with a focus on call center-based business process outsourcing solutions and accounts receivable management services to blue-chip clients in a variety of industries, including financial services, telecommunications, utilities, and student loan markets. Enhanced Resource Centers was founded in 1999 and is headquartered in Jacksonville, Florida.

Sell -
SELLER

Graycliff Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graycliff Partners is a private equity firm focused on private equity and mezzanine investments in middle-market companies throughout the US. The Firm's mezzanine practice does not have any sector preferences and looks to invest $10 to $50 million in profitable companies with at least $10 million in revenue. Funds are used to support buyouts, growth needs, divestitures, or consolidations. Graycliff's private equity group looks to acquire middle-market companies in the manufacturing, service, and distribution sectors. The Firm looks for businesses with $10 to $200 million of revenue. Graycliff Partners was established in 1991 and is based in New York City.

DEAL STATS #
Overall 29 of 37
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 8 of 13
State (Illinois) 3 of 3
Country (United States) 26 of 34
Year (2022) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-16 PTS

Lehi, Utah, United States

PTS is one of the largest private, post-secondary educators providing phlebotomy training and certification in the United States. With 72 campuses across 29 states and growing, the company offers hands-on instruction to students working in or seeking work in the healthcare sector. PTS was founded in 1993 and is based in Lehi, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-10 Metaltec Steel Abrasive

Canton, Michigan, United States

Metaltec Steel Abrasive is a producer of cast steel abrasive products, including steel shot and steel grit, along with several niche materials that are produced as a byproduct of the grit and shot manufacturing process. Metaltec Steel Abrasive was founded in 1981 and is based in Canton, Michigan.

Buy -
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