Madison Dearborn Partners is buying Multi Packaging Solutions from Irving Place Capital for an undisclosed amount.
Multi Packaging manufacturing printed folding cartons, labels and inserts for customers in the health care, consumer and media markets. The company has 16 manufacturing facilities and about 2,600 employees.
Irving Place invested in New York-based Multi Packaging in 2005. The private equity firm focuses on making control investments, and has invested in more than 60 companies and raised more than $4 billion in equity capital since being founded in 1997. The New York firm’s other packaging investments include Alpha Packaging, Mold-Rite Plastics and Chesapeake Holdings, which is currently up for sale.
Chicago-based Madison Dearborn is a private equity firm that invests in the packaging, business and government services, consumer, health care, financial and transaction services, and telecommunication industries. In April, the firm beat out TPG Capital for National Financial Partners Corp. in a $1.3 billion deal.
Bank of America Merrill Lynch and Barclays plc were Multi Packaging’s financial advisers, and Kirkland & Ellis LLP served as legal counsel. Moelis & Co. provided financial advice to Madison Dearborn, and Ropes & Gray LLP served as legal counsel.
Other recent packaging deals include Atlas Holdings and Blue Wolf Capital Partners’ purchase of a stake in Twin Rivers Paper Co., KPS Capital Partners LP’s purchase of Wausau Paper Corp.’s and Packaging Dynamics Corp.’s specialty paper businesses, and Odyssey Investment Parters LLC’s acquisition of packaging company Fischbein LLC.