Mid Oaks Investments has sold Plastic Packaging Technologies to PPC Flexible Packaging, a portfolio company of GTCR

Plastic Packaging Technologies

Plastic Packaging Technologies (PPT), based in Kansas City, Kansas, is a leading manufacturer of value-added flexible packaging solutions serving the pet care, food and beverage, specialty consumer and healthcare markets. PPT employs 425 people and operates four modern, state-of-the-art facilities in Kansas City, Kansas, and Columbus, Ohio, from which it produces a comprehensive portfolio of high-quality, custom flexible packaging solutions, including pre-made pouch and value-added roll stock formats. The company’s products offer a variety of value-added features and attributes, including various print finishes, closures, zippers and laser-perforations across an array of barrier substrates, including Thrive!, PPT’s line of sustainable / recyclable materials. The company is vertically integrated from printing through substantial pouch converting operations, giving it a significant competitive advantage in the market.

The Deal

Acquired in 2010, Mid Oaks partnered with PPT’s management team to invest in innovative new machinery and equipment capacity to support growth, expand capabilities, integrate cutting-edge technology systems and successfully grow the customer base with numerous blue-chip customer wins. Mid Oaks was seeking liquidity on its investment in PPT, based on the achievement of investment objectives. Mid Oaks turned to Lincoln to execute a highly competitive and successful sale process given Lincoln’s flexible packaging expertise, real-time market insights and breadth and depth of resources.

Lincoln worked closely with Mid Oaks and PPT’s management team to highlight the company’s compelling investment thesis, while providing mergers and acquisitions (M&A) and industry expertise. Lincoln managed the marketing, diligence and negotiation process, driving competitive tension throughout the transaction. PPC Flexible Packaging, a leading printer and converter of flexible packaging products, targeted PPT to add a differentiated flexible packaging asset, complementing its existing flexible packaging capabilities and greatly expanding its pet care offering. The transaction resulted in an exceptional outcome for the shareholders and a strong fit for the management team.

David Staker, President and Chief Executive Officer of PPT, commented, “On behalf of the entire PPT team, we are delighted with the achieved result working with Lincoln International. Their process execution, flexible packaging market expertise and client focus allowed us to run a successful transaction resulting in a highly complementary partnership with PPC and GTCR.”

Our Perspective

Luke Webb, Managing Director in Lincoln’s Industrials Group who leads packaging, commented, “The PPT transaction is another example of our in-depth market knowledge in packaging, in combination with our hands-on approach to be market ready and crafting a highly compelling investment thesis to attract the highest levels of interest from both private equity and strategic acquirers. We continue to see heightened M&A activity in the packaging space for sought-after companies like PPT, ultimately resulting in outsized outcomes.”

Mid Oaks

Mid Oaks Investments is a private investment firm that invests its own capital in middle market companies that possess a substantial opportunity for value creation. The company seeks to partner with entrepreneurial management teams with the foresight and vision necessary to elevate an enterprise to the next level of performance. For more information, please visit www.midoaks.com.

PPC

PPC is a leading flexible packaging provider headquartered in Buffalo Grove, Illinois. PPC has steadily grown and evolved, both organically and through acquisitions, into a premier top 15 high-quality flexible packaging manufacturer. The company’s unique capabilities and speed to market have established it as a leader within the consumer and cleanroom markets. For more information, please visit www.ppcflex.com.

GTCR

Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the business and consumer services, financial services and technology, healthcare and technology, media and telecommunications sectors. Since its inception, GTCR has invested more than $24 billion in over 270 companies, and the firm currently manages over $27 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com.

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