Based in Buffalo Grove, Illinois, PPC has expertise in flexographic printing and converting of flexible films, bags, pouches and prototype packaging
GTCR has acquired US company PPC Flexible Packaging. (Credit: Gerd Altmann from Pixabay)
Private equity company GTCR has completed the acquisition of US-based PPC Flexible Packaging from investment funds managed by Morgan Stanley Capital Partners (MSCP) for an undisclosed sum.
As per the terms of the deal, PPC management will continue to manage the company and hold a significant minority interest.
Based in Buffalo Grove, Illinois, PPC has expertise in flexographic printing and converting of flexible films, bags, pouches and prototype packaging.
MSCP industrials head and managing director Eric Kanter said: “We believe PPC has cemented itself as a unique, high growth innovator in the sector, and we have appreciated the opportunity to work with the entire PPC team during this transformational period at the company. We are extremely grateful for their hard work and dedication over the past four years.”
Established in 2017, PPC supplies short and medium-run flexible packaging solutions through its 10 manufacturing facilities in the US and South America.
The company also provides cleanroom packaging for healthcare and medical applications and snack and organic brands, as well as speciality produce, pet, nutraceutical, bakery and horticulture markets.
PPC manufactures and distributes films and packaging for overwrap, shrink, sleeves, shrink bands, pouches, bundling film, Redi-Rak Grommet Bags, freezer, tamper-evident, mailer, moisture and oxygen barrier and chemical resistance.
PPC CEO Kevin Keneally said: “MSCP has been a tremendous partner to the entire PPC team, continuously supporting our organic growth aspirations, operational initiatives, and M&A capabilities, and we thank them for their impactful contributions to the business.”
William Blair served as a financial advisor to PPC and Raymond James and Mesirow provided co-advisory support to the company on the transaction. Jones Day acted as legal advisor to MSCP on the deal.
MSCP also invested in rigid healthcare packaging and medical components supplier Comar and labels and flexible packaging solutions provider AWT Labels & Packaging.