* Fortis Solutions Group, a portfolio company of Main Post Partners, has announced the acquisition of Infinite Packaging Group, Inc., a portfolio company of Svoboda Capital Partners.
Infinite, with facilities in Lewisville, TX, USA and Catoosa, OK, is a full-service converter of labels, including pressure sensitive labels, shrink sleeves and complementary products and services. Infinite serves a diverse group of clients in several consumer vertical markets including consumer products, retail, food and beverage, nutraceuticals and health and beauty. In addition, the company has developed a specialized line of products and solutions for e-commerce sales.
Fortis president and CEO John O.Wynne, Jr. comments,"I have long admired the Infinite organization and its go-to-market strategies. We are excited to partner with Infinite CEO Lynn Higgs to continue building upon their success. This acquisition is a wonderful opportunity to grow our presence in the Texas market and establish a presence in Oklahoma. In addition, we will be bolstering our strength across product offerings and key vertical markets. We welcome the Infinite employees and customers to the Fortis organization."
Infinite CEO G. Lynn Higgs adds,"We are thrilled to join forces with Fortis CEO John Wynne and the entire Fortis team.This will be a powerful business combination that will provide access to a national footprint and allow us to bring added capabilities to our customers. The customer-focused approach of Fortis is a great cultural fit with what we have been building over the years."
Employing over 550 employees across 12 sites, Fortis intends to continue its pursuit of attractive acquisitions to further the breadth of product offerings and locations that can serve its customer base. This is the fourth add-on transaction for Fortis over the past six months, having earlier acquired Lewis Label Products Corporation, Premier Georgia Printing and Labels and Austin Label Company.
Premier, located in Flowery Branch. GA, is a full-service labels, packaging, folding carton, offset and flat sheet printing company. Primarily serving customers across the Southeast in the food end market, Premier recently became SQF certified, evidencing its commitment to food safety and quality assurance.
Austin Label, located in Austin, TX, provides custom pressure sensitive labels using flexographic and digital printing technologies to customers in the wine, spirits and food end markets across the United States.
Wynne, Jr. adds, "We are excited to grow our organization with the acquisitions of these two great companies. The acquisitions of Premier and Austin fully support our growth strategy of product, end market and geographic diversification. We look forward to extending our new folding carton capabilities across the Fortis footprint and growing our presence in Texas and the food, wine and spirits end markets. We welcome the Premier and Austin employees to the Fortis organization."
RESOURCE LABEL GROUP ACQUIRES BEST LABEL
* Resource Label Group has announced it has acquired Best Label Company. The move broadens Resource Label's West Coast presence and position in the label and packaging industry. Best Label represents the fourth acquisition in recent months for Resource Label, a portfolio company of First Atlantic Capital, a New York-based private investment firm, and TPG Growth, the middle market and growth equity investment platform of TPG.
Mike Apperson, president and CEO of Resource Label Group, comments, "I am honored that Best Label has joined the Resource Label Group team. Best Label brings a group of talented individuals, a high level of product quality and innovative packaging solutions to our organization. I look forward to working closely with the team to continue to serve our growing customer base across North America."
Located in Cerritos, CA and Union City, CA, Best Label is one of the largest label manufacturers on the West Coast and provides cost-effective labeling solutions across a variety of segments, including the food, beverage, health and beauty, pharmaceutical, automotive, agricultural and chemical industries.
With more than 40 years of experience, Best Label offers a diverse inventory of letterpress, flexographic and digital printing and enhanced finishing assets to offer a full breadth of pressure sensitive, extended content and promotional label solutions.
"We are extremely excited to join Resource Label Group," says Ernie Wong, former CEO of Best Label."Resource Label shares our commitment to ensuring the long-term success of our customers and valued employees. This partnership is key to supporting our vision and the growth plans for the business."
Roberto Buaron, chairman and CEO of First Atlantic Capital, comments, "Best Label has an outstanding group of dedicated employees, diverse client base, and is a valued addition to Resource Label Group. "We are pleased to continue to support Resource Label's expansion, which includes 14 acquisitions since our initial investment in 2011,"Buaron adds.
UPM RAFLATAC EXPANDS RAFCYCLE TO NORTH AMERICA
* UPM Raflatac, a global supplier of sustainable pressure sensitive labeling products, has announced that its RafCycle recycling solution has expanded to the United States and Canada. Now, brands in this region can give new life to their self-adhesive label waste that would otherwise be landfilled.
Converter and printer Fort Dearborn Company, as well as several brand owners, are participating in the launch.
UPM Raflatac collects the paper and PET liner waste from its RafCycle partners and recycles it into new materials, which provides numerous benefits to printers, packers, brand owners and the environment. Turning waste into a resource is a key concept in the circular economy and an important part of UPM Raflatac's approach to labeling a smarter future beyond fossil fuels.
Collaboration across the value chain is of paramount importance to making the RafCycle program successful in delivering more sustainable packaging solutions. The North American launch of the program includes value added partners across the value chain, from UPM Raflatac to printers/converters, brands and recyclers.
"Our RafCycle program proudly boasts more than 120 partners worldwide, and we are honored to bring this solution to sustainability-minded brands in North America, who are looking to join us in labeling a smarter future by reducing their label waste," says Juha Virmavirta, director, RafCycle Solutions, UPM Raflatac. "We invite any brands looking to achieve their sustainable packaging and zero waste targets to contact us to learn more about how our RafCycle solution can benefit them."
UPM Raflatac has also partnered with Sustana and Kal-Polymers to recycle the paper and PET label liner waste from its RafCycle partners.
"Sustana is pleased to support the innovative RafCycle program and to be part of the circular economy by renewing fiber that is often landfilled and turning it into new paper and tissue products," says Jay Hunsberger, vice president, Pulp sales and marketing, Sustana.
"Our recycled materials enhance profits, reduce costs, maintain quality and support sustainability," says Gobi Saha, president, Kal-Polymers. "We have joined UPM Raflatac's RafCycle program to help give label liner waste a new life."
"By signing on as a RafCycle partner, we will help our customers and brand owners build their legacy as a responsible business and reduce their environmental footprint," adds Tyler Matusevich, sustainability manager, Americas, UPM Raflatac. "Our RafCycle waste management concept shows how we can work together to think and act circular. Special thanks to Fort Dearborn Company, Sustana and Kal-Polymers for taking this important step in creating a more circular economy."
CCL ANNOUNCES THREE NEW ACQUISITIONS
* CCL Industries has announced that it has reached binding agreements to acquire two privately held label converters and a specialist technology company producing high bond pressure sensitive tapes.
The company agreed to acquire the assets of Unilogo, based near Warsaw, Poland, a supplier of digitally printed, pressure sensitive and sleeve labels for consumer products customers. Forecast 2018 sales are approximately $7.4 million with estimated, adjusted EBITDA of $2.5 million. The agreed purchase consideration in cash and acquired lease obligations is $10.7 million, subject to customary closing adjustments. The transaction closed in late December 2018.
The company also agreed to acquire Hinsitsu Screen (Vietnam) Company Limited, based in Hanoi, with a second manufacturing operation in Ho Chi Minh City. Hinsitsu is a supplier of durable and tamper evident labels and graphic overlays for the electronics industry in Vietnam. For the trailing 12 months, ended June 30, 2018, sales were $11.2 million with adjusted EBITDA of approximately $2.0 million. The agreed purchase consideration, net of cash acquired, is $12.4 million subject to customary adjustments, with closing taking place in January 2019.
In addition, the company agreed to acquire Olympic Holding B.V. and its related subsidiaries, based in Venray in the Netherlands. Olympic is a privately held, startup technology company with a proprietary, patented process to produce high bond, acrylic foam tapes without the use of solvents for applications in the automotive, electronics and construction industries. The agreed purchase consideration in cash and assumed debt is $13.5 million with closing planned for January 2019 and subject to customary adjustments.
Geoffrey Martin, president and chief executive officer of CCL, comments, "We are pleased to expand our existing, successful operations in Poland with the addition of Unilogo, which specializes in digital technologies. Hinsitsu brings CCL Design to a strategically important country for global electronics customers, while Olympic adds important capability for high performance adhesive systems. By 2021, we...