Harvest Partners LP has, through funds managed by Harvest, along with management, have acquired Fortis Solutions Group, a provider of specialty packaging services, from Main Post Partners LP. The company’s management team, led by founder and CEO John Wynne, will continue to lead Fortis and remain significant owners of the business alongside Harvest.
Wynne said, “It’s been an incredible journey with Main Post Partners and I’m very appreciative and thankful to them for their outstanding contributions. Together with our great team at Fortis, we built the ‘One Fortis’ culture and growth vision which have allowed us to differentiate ourselves in the marketplace. I’m very much looking forward to working alongside Harvest Partners as we further develop and accelerate the value-added offerings that we deliver to our customers.”
“We thank John, his outstanding management team, and all Fortis employees for helping to build an industry leader while generating substantial shareholder value, and we wish the Company continued success with Harvest Partners,” said Scott Bell, partner at Main Post Partners.
Michael DeFlorio, CEO and partner at Harvest, and James Mitchel, partner at Harvest, said, “We have admired Fortis’s tremendous success over the years and recognize their leadership position in the specialty packaging and labels markets. We are excited to partner with John and the Fortis management team to support the Company’s organic and acquisition growth initiatives in the coming years.”
BMO Capital Markets served as financial advisor and Morrison & Foerster served as legal advisor to Fortis and Main Post. Ropes & Gray LLP served as legal advisor to Harvest Partners. As part of the transaction, Michael DeFlorio, Mitchel, and Andrew Hudelson from Harvest Partners will join Wynne on the board of directors of Fortis.