Fort Dearborn, MCC (Cont’d from Page 1)
and currently serves on the Fort Dearborn Board of Directors. “We believe the growth opportunities that this com- bination and new investment partnership with CD&R present will greatly benefit our customers, suppliers, and employees alike,” said Kevin Kwilinski, President and CEO of Fort Dearborn. Closing Conditions The acquisitions and merger are subject to custom- ary closing conditions and are expected to be com- pleted by the end of 2021. With offices in NewYork, NewYork, and London, En- gland,CD&R has invested more than $35 billion in 100 companies since it was founded in 1978.
Advent acquired Fort Dearborn in 2016 from Denver, Colorado-based KRG Capital Partners. Platinum took Multi-Color private in 2019 in a deal valued at $2.5 billion including debt and merged it with a subsidiary of its portfolio companyWS Packaging Group, another label maker. The deal values the combined company at around $6 billion including debt. Terms of the transaction were not disclosed. “We see strong strategic logic and promising value creation potential in bringing these two leading la- bel manufacturers together,” said Nate Sleeper, CD&R Chief Executive Officer. Combining Assets The combination of Fort Dearborn and MCC will create a diversified platform across label technologies, end categories, geographies and customers. It will serve a diverse mix of customers active in a number of end categories, including wine and spirits, food and beverage, beer, and home and personal care.The com- bined company is expected to generate approximately $3 billion of annual revenue. David Scheible, Operating Advisor to CD&R, will serve as chairman of the combined company. Scheible is the former chairman and CEO of Graphic Packaging
Coveris Opens New Facility In Germany
Coveris, a European flexible packaging manufactur- ers, has opened a new medical site in Rohrdorf, Ger- many, in line with its modernization and expansion program to grow the medical segment with significant investments toward industry 4.0. For the opening cel- ebrations, Jakob A. Mosser, Group CEO at Coveris, vis- ited the new, modern, and energy-optimized building. The site features an ISO Class 7 cleanroom.
Designed with input from HP Indigo experts, our Parts Washer (model number A-44213-A) was created specifically to clean parts from HP Indigo digital presses. It speeds productivity through an extra long flush hose for direct hands-free flushing of press parts. The Graymills abrasive resistant pump, twin filtration system, and rugged power-coated steel construction are up to the challenge of cleaning with imaging oil. DOES AN HP INDIGO NEED ITS OWN PARTS WASHER? They Thought So.
Flexo Market News July 19, 2021 3
www.nvpublications.com
Made with FlippingBook Online newsletter maker