Star Packaging Corp.

Star is a flexible packaging convertor producing laminated and printed film structures for a wide range of consumer packaged goods applications in end markets such as snack foods, bakery, frozen foods and produce. The company operates several modern 8/10 color flexographic presses and a variety of value added laminating, pouch and bag making equipment at its two facilities.

Business Description

Star is a flexible packaging convertor producing laminated and printed film structures for a wide range of consumer packaged goods applications in end markets such as snack foods, bakery, frozen foods and produce. The company operates several modern 8/10 color flexographic presses and a variety of value added laminating, pouch and bag making equipment at its two facilities. In addition, Star has Inno-Lok capabilities in house to produce zippered roll stock and niche technical expertise to formulate and manufacturer products for child resistance packaging (CRP) applications.

Background

The transaction was completed as a strategic investment through InterFlex Group. Drawing on our industry knowledge, Nicolet Capital worked closely with InterFlex management to refine its strategic plan and identify specific acquisition targets to facilitate that plan. The opportunity to acquire Star was proactively originated by Nicolet Capital who had a prior relationship with Star management. Nicolet Capital directly negotiated the acquisition of Star with the company’s private equity owner.

Outcome

Nicolet Capital is working closely with management to integrate the acquisition of Star which is expected to generate significant synergies. Star’s end markets and customers are highly complementary to InterFlex. The company has excellent equipment and its unique technologies around Inn-Lok and CRP have attractive future growth prospects.

Testimonials

“The acquisition of Star further expands InterFlex’s capabilities as an operationally robust packaging supplier offering North American customers a range of flexible packaging solutions and technical resources.  At the same time we will continue to deliver the flexibility and customized service that has been a signature of both companies.”

– Stephen Doyle, President & CEO of InterFlex Group

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    Nicolet Capital Partners, LLC, a private equity firm in Chicago, IL, announced today that it has successfully completed the acquisition of Star Packaging Corp. from private equity firm Azalea Capital.

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