Nicolet Capital Partners, LLC, a private equity firm in Chicago, IL, announced today that it has successfully completed the acquisition of Transilwrap Company, Inc. in partnership with the company’s existing management team. Transilwrap, headquartered in Franklin Park, IL, is the largest converter and distributor of synthetic films in the North American market.
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.
Commenting on the company, Brett A. Snyder, President of Nicolet Capital stated, “Transilwrapís deep management team, knowledgeable sales force and the scale and breadth of its converting capabilities make it an ideal platform for growth. This management team has done a terrific job of strategically positioning Transilwrap as a key player in the supply chain and improving efficiency in all facets of its operations. Going forward, we expect to work closely with them to aggressively pursue acquisition opportunities that will capitalize on these core strengths, enhance our converting capabilities, provide access to new markets and allow Transilwrap to bring even more complete material and processing solutions to its customer base.”
Mark Stevens, who will continue as President and Chief Executive Officer of Transilwrap, added “Transilwrap has enjoyed a great run over the past several years strengthening our core competencies and using organic growth to fuel our success. We had positioned ourselves well across all of our key markets and were in need of a partner that could help us take our growth strategies to the next level.î Mr. Stevens, a 24 year veteran of Transilwrap and President since 2000 further explained “We conducted a very thorough process to identify a partner that was right for us. We were fully prepared to forego an equity transaction unless we could find a partner that was compatible with our internal culture, supportive of managementís continued involvement and had a shared vision of using Transilwrap as a growth platform to leverage our 76 year history of industry leadership. We feel we have found that ideal partner in Nicolet Capital and have never been more excited about our future prospects.”
Transilwrap approached Cook Associates, Inc. to identify and secure the right private equity partner. “Transilwrap was quite specific in its profile of a desired partner and wanted to consider only private equity groups that met their criteria. Nicolet was on our short list from the start as a group embracing the values and pro-management characteristics that were so important to Transilwrap” said Brian Gross, Managing Director of WindLake Capital Advisors, LLC who led the advisory engagement in partnership with Arnis Kins, President of Cook Associates. Mr. Gross added “Not only did Nicolet conduct themselves with integrity throughout the entire process, but their well-established financing relationships provided additional comfort in a credit market that became considerably more difficult post letter-of-intent. When credit markets tighten unexpectedly, transaction experience, integrity and financial stability become paramount. Nicolet’s strong industry reputation and ability to provide junior financing capital in conjunction with its equity led to a smooth and timely closing despite uncertain market conditions. I can say without reservation, that both Nicolet and Transilwrap made excellent choices in selecting a partner.”
Mr. Snyder commented further on the transaction stating that, “The acquisition of Transilwrap is consistent with our past success investing in companies that have built a significant market position over a long period of time by providing critical products and services to an industrial customer base. We are honored to become a part of the proud history of this great company and look forward to participating in Transilwrapís continued growth and development.”
Terms of the transaction were not disclosed although Mr. Snyder confirmed that the total purchase price was in excess of $100 million.
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 established companies with meaningful and sustainable competitive positions serving a distinct end market. In addition to its equity capital, Nicolet Capital can provide complete, committed debt financing for its transactions.
For more information on Nicolet Capital, contact Brett A. Snyder at 312-214-3921 or visit their website at www.nicoletcap.com. For more information on Transilwrap Company, Inc., please visit their website at www.transilwrap.com.