Mesirow Advises Optimum Plastics, A Portfolio Company Of Huron Capital Partners, On Its Sale To Charter NEX Films, A Portfolio Company Of Pamplona Capital Management
CHICAGO, December 2, 2015 – Mesirow Financial acted as the exclusive financial advisor to Bloomer Holdings, Inc. (d/b/a “Optimum Plastics” referred to herein as “Optimum” or the “Company”), a portfolio company of Huron Capital Partners, LLC (“Huron”), on its sale to Charter NEX Films, Inc. (“Charter NEX”), a portfolio company of Pamplona Capital Management, LLP (“Pamplona”).
Headquartered in Bloomer, Wisconsin, Optimum is a leading manufacturer of custom, specialty film solutions offering up to 9-layer production capabilities. The Company’s comprehensive mix of blown and cast embossed film solutions, coupled with Optimum’s strong design and production capabilities, enable the Company to offer thousands of product variations and engineered solutions. Optimum serves a diverse customer base across strategically identified target markets and applications, including food and other packaging, transportation, industrial, medical, graphics, consumer and office products, among others.
The sale of Optimum to Charter NEX enhances the combined company’s ability to serve a growing demand for customized film solutions. Optimum brings highly engineered cast embossed capabilities along with a diversified customer base and end markets. Together, the two companies offer a broader range of products and capabilities fueling continued growth.
Kathy Bolhous, CEO of Charter NEX, commented, “We are excited to be partnering with Optimum. This acquisition supports our objective to grow our specialty film market in North America and our strategy to continually offer our customers innovation, new technology and an expanded product portfolio.”
Kevin Keneally, CEO of Optimum Plastics, said, “Mesirow Financial’s in-depth knowledge of the packaging industry and professional approach and guidance throughout the transaction was instrumental in creating a successful outcome for shareholders.”
Louis Mitchell, managing director of Mesirow Financial's Investment Banking group, added, “We were honored to represent the shareholders of Optimum in this process. Our deep experience and expertise within the film industry allowed us run a process that paired Optimum with the ideal strategic partner, while securing a successful result for all parties involved.”
The transaction represents another successful assignment completed by Mesirow Financial’s Investment Banking group. Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed over 100 transactions in recent years.
About Huron Capital Partners
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has raised over $1.1 billion in capital through four committed private equity funds and invested in over 100 companies, and our portfolio companies have employed over 7,500 people throughout North America. The Huron Capital ExecFactor® buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital’s sector focus includes specialty manufacturing, business services, consumer goods & services, and healthcare. For more information, please visit huroncapital.com.
About Charter NEX
Charter NEX is a market-leading manufacturer of monolayer, coextruded and barrier films, including stand-up pouch and flexible packaging films. Charter NEX blown film products are used in a range of segments and high growth applications, with a particular focus on food and beverage, consumer product and medical applications. The Company has industry-leading manufacturing capabilities, supported by a culture of operational excellence focused on training and development and continuous process improvement. Additional information is available at charternex.com.
Pamplona is a London and New York-based specialist investment manager established in 2005 that provides an alternative investment platform across private equity, fund of hedge funds and single manager hedge fund investments. Pamplona manages over USD $10 billion in assets across a number of funds for a variety of clients, including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. Pamplona is currently investing its fourth private equity fund, Pamplona Capital Partners IV LP, which was raised in 2014. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations. Please see pamplonafunds.com for further information.
About Mesirow Financial
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with approximately 1,200 employees globally. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information, visit mesirowfinancial.com.