Daily News: January 9, 2012

GE Antares, Others Finance CI Capital’s IntraPac Acquisition


CI Capital Partners, a North American private investment firm, announced that it has acquired the operations of The IntraPac Group. GE Antares Capital, BMO Capital Markets, Madison Capital Funding and Audax Mezzanine provided financing for the transaction.

IntraPac is a manufacturer and marketer of specialty plastic packaging, focused on the personal care and pharmaceutical markets, as well as food, beverage, and household and industrial chemicals. IntraPac’s product offering includes personal care and amenity bottles, single and double-walled jars, injection molded caps and closures, laminate tubes, tin tubes, deodorant stick canisters, and other specialty rigid plastic packaging products. IntraPac has eight production facilities spanning North and Central America, and serves over 400 customers worldwide. In conjunction with the transaction, Thomas K. Linton, formerly the president of North American Packaging Corporation (NAMPAC), will become CEO of IntraPac.

“IntraPac’s unique value proposition, offering a complete specialty packaging product suite, is a very attractive platform for growth,” said Steven M. Lefkowitz, president of CI Capital. “IntraPac has a strong track record of growth and profitability, a proven ability to make attractive acquisitions, and long-term relationships with a high quality, diverse customer base. We look forward to working with Tom Linton and the company’s experienced management team to build on IntraPac’s strong position and pursue further growth opportunities in this space,” said Mr. Lefkowitz.

Linton said, “I am excited to partner with CI Capital, a firm that has a long history of helping companies like IntraPac accelerate their growth and execute on strategic acquisitions. We are confident that this transaction will enable IntraPac to create and deliver even more value to our existing customers as well as secure new customers.”

“IntraPac’s targeted product offering, including specialty bottles, jars, caps and closures, and tubes, offer attractive growth potential, profitability, and consolidation opportunities,” added Tom Ritchie, managing director at CI Capital. “IntraPac will serve as a platform in this industry as we seek to invest in or acquire complementary businesses to expand the company’s product breadth and customer base.”

BMO Capital Markets acted as financial advisor to IntraPac. Sidley Austin, Gowling Lafleur Henderson and Pacheco Coto provided legal counsel to IntraPac. Paul, Weiss, Rifkind, Wharton & Garrison, Blake, Cassels & Graydon and LEX Counsel provided legal counsel to CI Capital.

CI Capital Partners is a North American private investment firm focused on building and expanding leading middle-market businesses.

IntraPac is a manufacturer of specialty plastic packaging serving end markets such as personal care, pharmaceutical, and food and beverage.