GREEN BAY, Wis., Feb. 05, 2018 (GLOBE NEWSWIRE) -- WS Packaging Group announced today that Platinum Equity has acquired the company from J.W. Childs Associates, L.P.
Headquartered in Green Bay, Wisconsin, WS Packaging Group provides labels and packaging solutions for the food and beverage, consumer packaged goods, and pharmaceutical markets.
The company, which primarily markets pressure sensitive labeling products, is one of North America's leading label converters, providing innovative packaging, shopper promotion and branding solutions that help its customers increase shelf impact, brand consistency and shopper engagement for the products they sell to end consumers.
Platinum Equity Principal Jason Price said he is excited about WS Packaging Group’s prospects as part of Platinum Equity’s portfolio.
“WS Packaging Group has great potential, and we look forward to working closely with the company’s management team, customers, suppliers, and other stakeholders,” said Mr. Price. “We believe it will benefit from our operational resources and our ability to help identify and pursue new avenues for growth.”
Platinum Equity has considerable experience in the packaging sector and recently owned Mactac, one of WS Packaging Group’s suppliers of pressure sensitive materials.
J.W. Childs Associates Partner, David Fiorentino, commented, “We have enjoyed our close partnership with WS Packaging Group. The company has made meaningful investments in new technology, has dedicated employees and deep customer relationships. We wish Platinum, the WS Packaging Group management team and all WS Packaging Group employees well with the business.”
WS Packaging Group CEO Dean Wimer is remaining with the company to lead the business.
“We thank the team at J.W. Childs Associates for the guidance and support of the business under its ownership. We’re excited to work with Platinum Equity, who brings a fresh perspective, with new energy and focus to the table,” said Mr. Wimer. “They know our industry well and have the operational and financial resources we need to help maximize our company’s potential.”
Latham & Watkins acted as legal counsel to Platinum Equity on the acquisition of WS Packaging Group. McDermott Will & Emery served as legal counsel and Barclays as financial advisor to WS Packaging Group.
About W/S Packaging
WS Packaging Group, Inc., with more than 50 years of experience, is one of the largest printing and label converting operations in North America. It operates 17 manufacturing facilities and produces high-quality packaging products. Its customers range in size from small businesses to large, high-volume manufacturers and consumer product goods companies doing business locally, nationally, and in marketplaces worldwide.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications, and other industries. Over the past 22 years Platinum Equity has completed more than 200 acquisitions.
About J.W. Childs Associates
J.W. Childs is a Boston-based private equity firm focused on investing in middle-market growth companies. Since inception in 1995, J.W. Childs has invested in excess of $3.5 billion of equity capital in more than 45 companies across the consumer, specialty retail and healthcare industries. The firm’s success has been built on its industry focus and the extensive operating expertise of its partners. For more information, please visit www.jwchilds.com.
J.W. Childs Asssociates, LP
WS Packaging Group, Inc.
Source: Platinum Equity