Inovar's current management team, led by executive chairman and CEO Jeff Brezek, will continue to operate the firm, and Kelso will remain a key shareholder
Kelso & Company acquires minority stake in Inovar Packaging. (Credit: Inovar.)
Inovar Packaging Group, a provider of pressure-sensitive labels, shrink sleeves and flexibles, announced that the funds managed by Kelso & Company have purchased a majority interest in the firm.
Headquartered in Dallas, Texas, Inovar was previously listed in the portfolio of AEA Investors.
The company’s current management team, led by executive chairman and CEO Jeff Brezek, will continue to operate the firm, and Kelso will remain a key shareholder.
Inovar Packaging Group executive chairman and chief executive officer Jeff Brezek said: “Kelso is the perfect partner to support Inovar’s next stage of growth.
“We are fully aligned on the near and long-term vision for Inovar, which will provide increased value for our customers and more opportunities for our people, while strengthening our position as the partner of choice for other label and packaging companies seeking to join a premier, nationwide platform.”
Kelso & Company managing director Sandy Osborne said: “At Kelso, we look for opportunities to partner with market-leading companies that are managed by best-in-class management teams.
“Inovar represents the preeminent pressure sensitive label and packaging solution provider in the US, and we are excited to partner with Jeff Brezek and the broader Inovar team to help accelerate the Company’s next phase of growth.”
Kelso & Company managing director Alec Hufnagel said: “The Inovar team has built a truly differentiated business, and we are eager to support its growth, both organically and through acquisitions, as it continues to augment its product offering, expand its geographic presence, and serve the critical needs of its customers.”
In August last year, the company completed the acquisition of Precision Label in partnership with the existing Precision Label management team.