Wellspring Capital Management LLC has agreed to purchase tableware manufacturer Hoffmaster Group Inc. from private equity firm Metalmark Capital for an undisclosed amount. The buyer plans to grow the target through acquisitions.
Oshkosh, Wisconsin-based Hoffmaster makes and sells disposable tableware products for food service distributors, retail stores and grocery stores across North America. The target’s products include decorative napkins, guest towels, paper plates, tray mats, pre-wrapped cutlery and table covers. Hoffmaster CEO Rory Leyden will continue to lead the business. Hoffmaster plans to expand the company’s product line.