Nicolet Capital Partners, LLC, a private equity firm in Chicago, IL, announced today that it has sold its portfolio company, Transilwrap Company, Inc., to private equity firm The Jordan Company. Nicolet Capital acquired Transilwrap in 2007 and completed two add-on acquisitions to the company over the next six years. During this time, Nicolet Capital also recruited several key senior managers to Transilwrap and worked closely with them to develop a strategy to reinvigorate organic growth. Despite acquiring the company less than a year before the financial crisis, Nicolet Capital generated a 2.7x return on its equity investment in Transilwrap while the company’s EBITDA nearly doubled. Other terms of the transaction were not disclosed.
Transilwrap operates 11 facilities throughout the U.S. and Canada that manufacture and distribute 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. 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.
Commenting on the sale transaction, Brett A. Snyder, President of Nicolet Capital stated, “When we first acquired Transilwrap it was a steady business but lacked many of the organizational practices needed to proactively drive growth. We built a world-class management team over time and worked closely with them to enhance operational and financial reporting tools, revamp the product development process, dedicate resources to new markets and improve the sales and customer service functions. It is extremely gratifying to see the great strides that Transilwrap has made in all of these areas. I am especially pleased that this talented management that we have assembled will have the opportunity to continue to excel with a new financial partner. I wish each of them continued success.”
Andy Brewer, President and CEO of Transilwrap added, “Nicolet greatly contributed to Transilwrap’s transformation by partnering and collaborating with management. The foundation of our success was Nicolet’s willingness to engage and understand the business at a level that drove a clear understanding of the company’s core needs and opportunities. This allowed Transilwrap and Nicolet to quickly align business strategies, personnel needs and business processes to affect the necessary changes to drive growth. This alignment and Nicolet’s support was particularly helpful as Transilwrap executed its acquisition strategy and brought new talent into the organization.”
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 $20-75 million in companies with distinct market positions that possess sustainable competitive advantages. Nicolet Capital has specific expertise in industries related to Plastics, Packaging and Converting. 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.