GTCR Announces Acquisition of PPC Flexible Packaging
CHICAGO, Oct. 1, 2021 /PRNewswire/ -- GTCR, a leading private equity firm, announced today that it has closed the acquisition of PPC Flexible Packaging (“PPC” or the “Company”).
PPC, headquartered in Buffalo Grove, Illinois, is a leader in flexographic printing and converting of flexible films, bags, pouches and prototype packaging.
GTCR will partner with CEO Kevin Keneally and the management team at PPC as they continue to grow the business and expand the Company’s suite of packaging solutions. As part of the transaction, GTCR expects to commit significant incremental equity to fund future acquisitions and expansion opportunities.
Founded in 2017 by Kevin Keneally, PPC has grown through acquisition and organic growth to become a leading provider of short- and medium-run flexible packaging solutions. The Company is a recognized pioneer in cleanroom packaging for healthcare and medical applications and snack and organic brands, as well as specialty produce, pet, nutraceutical, bakery and horticulture markets. PPC operates ten manufacturing facilities in the U.S. and South America.
“Kevin and the PPC team have built a remarkable business in a short period of time by acquiring differentiated packaging assets focused on attractive end markets,” said GTCR Managing Director David Donnini. “We look forward to being partners with the PPC team and continuing their successful consolidation of high-quality flexible packaging companies.”
“PPC is excited to partner with GTCR. We will continue to support our customers with exceptional service while expanding our product offering through innovation and acquisitions,” said Mr. Keneally. “GTCR brings unique experience in building industry-leading companies and expects to commit additional capital to fund growth.”
Tom Ehrhart, Principal at GTCR, added: “PPC’s innovative packaging solutions and dedication to exceptional customer service create a strong platform that sets the Company apart. We are thrilled to partner with Kevin and the PPC team.”
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com.
About PPC Flexible Packaging
Headquartered in Buffalo Grove, Illinois, PPC Flexible Packaging has steadily grown and evolved, both organically and through acquisition, into a premier top 20 high quality flexible packaging manufacturer. They are a dynamic team of design and packaging professionals dedicated to providing creative packaging solutions. PPC’s capabilities, technology, service and speed to market have always been their greatest strengths– establishing them as a trusted leader within the consumer and cleanroom markets.
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