Nicolet Capital Partners, LLC, a private equity firm in Chicago, IL, announced today that it has successfully completed the acquisition of Interfilm Holdings, Inc. Nicolet Capital completed the transaction through its affiliate Transilwrap Company, Inc. Interfilm, headquartered in Greenville, SC, is
a precision convertor of synthetic films operating five facilities throughout the U.S. The company serves a diverse customer base in end markets that include flexible packaging, labels and graphics, folding carton and envelope windows and various industrial applications. Interfilm also operates a specialty brushed film division under the name Brushfoil. Transilwrap, headquartered in Franklin Park, IL, is the largest manufacturer, converter and distributor of synthetic films in the North American market. Interfilm’s President, Donnie Thompson, will retire in connection with the acquisition while the rest of Interfilm’s senior management team will remain with the company and assist in the integration of the combined businesses. Other terms of the transaction were not disclosed.
The acquisition of Interfilm represents Nicolet’s third transaction in the Specialty Materials, Plastics and Packaging segments over the last year. In early 2010, Nicolet announced that it had acquired Quest Films, a manufacturer, converter and distributor of thermal laminating films, on behalf of Transilwrap. Nicolet also completed a minority equity investment in a new platform in 2010 to support the recapitalization and acquisitions of Pretium Packaging and Novapak. The two companies blow mold rigid plastic containers for a diverse range of consumer, household and industrial products.
Commenting on the Interfilm transaction, Brett A. Snyder, President of Nicolet Capital stated, “The acquisition of Interfilm highlights Nicolet Capital’s strategy of accelerating the growth and development of market leading companies in basic businesses. Transilwrap’s stable and diverse operations, strong cash flow and deep management team represent a highly attractive investment platform. The company’s strong financial profile will allow it to continue to capitalize on the numerous growth opportunities it enjoys both organically and through acquisition. The acquisition of Interfilm is very complimentary from a customer and manufacturing perspective to Transilwrap’s existing industrial and packaging film business. The combined companies are well positioned to provide unparalleled product breadth, availability and service to their customers.”
Interfilm’s former President, Donnie Thompson, added, “The acquisition of Interfilm by Transilwrap represents a terrific opportunity to continue to expand the converting business that we have built over the past fifteen years. The combined resources of the two companies along with the capital provided by Nicolet will allow for further market penetration with a diverse group of customers and suppliers. Our decision to transact with Transilwrap was heavily influenced by the respect that we gained for Nicolet during the due diligence and closing process which gave us comfort that our organization would be a part of a successful and growing business into the future.”
Interfilm was advised on the transaction by the investment banking firm of Sperry Mitchell & Company, Inc. Tom Pogacnik, Senior Vice President of Sperry Mitchell, commented, “Throughout the process, Nicolet exhibited true professionalism. I found them to be patient and very good listeners, two characteristics that are essential to completing deals. Furthermore, I was impressed with their flexibility and creativity in being able to solve deal issues. Nicolet approached the deal not only as a buyer, but also as a partner. Overall, the outcome of the deal was very positive, as there are a number of synergies between Transilwrap and Interfilm, positioning the combined entity for continued growth.”
About Nicolet Capital Partners, LLC
Nicolet Capital Partners, LLC, located in Chicago, IL, is a private equity firm that makes both majority and minority equity investments in established businesses across a wide range of basic industries. The firm targets equity investments of $20-50 million in companies with meaningful, distinct and sustainable competitive positions. In addition to its equity capital, Nicolet Capital can provide complete, committed debt financing for its transactions. For more information on Nicolet Capital, please contact them at 847-563-5377 or visit their website at www.nicoletcap.com.
About Transilwrap Company, Inc.
Transilwrap operates out of nine facilities across three business segments focused on thermal laminating, printable and specialty packaging films. The company engages in a variety of value-added processing operations including extrusion and other surface coating, magnetic striping, security and specialty printing, finished assembly, slitting, sheeting, tipping, die cutting and re-rolling. The company is also the second largest manufacturer of thermal laminating film in North America and manufactures its own line of printable synthetic alloys.
For over 75 years, Transilwrap has fulfilled a vital role in the supply chain for large manufacturers of PET, OPP, nylon, vinyl, styrene and other synthetic films. Transilwrap’s industry-leading sales force provides consultative sales service and support to a diverse customer base across a wide range of applications. End markets that utilize the company’s synthetic films include security, ID and loyalty card system integrators, a variety of commercial printing and finishing applications such as book publishing, trade, POP, and digital across all major print technologies, food and specialty packaging, niche medical products, and industrial applications.
For more information on Transilwrap Company, Inc., please visit their website at www.transilwrap.com.