Pleasant Prairie, WI – November 4, 2014 – PPC Industries, Inc. (“PPC” or the “Company”), a leading provider of outsourced high-quality, custom tubing, films and bags for the medical, food and industrial markets, has been acquired today by affiliates of Kohlberg & Company, L.L.C. (“Kohlberg”), a leading private equity firm based in Mount Kisco, New York.
PPC is a leading designer and manufacturer of medical device, food and industrial packaging products that are customized, highly technical formulations designed to meet strict performance requirements and tolerances. PPC supplies an extensive portfolio of tubing, films and bags to the medical device market as well as specialty food and industrial films/bags, auto-insertion bags and protective systems bags. PPC manufactures its products through a network of seven best-in-class facilities in North America, Central America, Europe and Asia.
“Kohlberg & Company is an excellent fit for PPC,” said Jonathan Waldron, CEO of PPC. “This transaction will give PPC access to capital, and it positions the company to continue to thrive in the future. We look forward to working with Kohlberg to continue to provide our customers with innovative, high quality specialty plastics solutions.”
Backed by the strength of Kohlberg’s private equity funds and experience with packaging and medical devices investments, this merger is expected to accelerate PPC’s growth. Seth H. Hollander, Partner of Kohlberg, commented, “We are extremely impressed with PPC’s high quality product offering and deep customer partnerships, supported by its robust new product development pipeline and state-of-the-art manufacturing capabilities. We look forward to working closely with the Company to support its continued growth and development, both organically and via acquisition.”
Lincoln International acted as financial advisor to PPC, and Fried, Frank, Harris, Shriver and Jacobson LLP acted as legal advisor to PPC. Kohlberg was advised by Paul, Weiss, Rifkind, Wharton & Garrison L.L.P.
About PPC Industries, Inc.
PPC Industries, Inc. is a manufacturer of specialty plastic solutions for medical/pharmaceutical, food processing, and niche industrial applications. PPC operates manufacturing facilities in the United States, Costa Rica, Malaysia and Ireland. For further information on PPC and its various products, please visit www.ppcind.com or www.kelpacmedical.com.
About Kohlberg & Company
Kohlberg & Company, L.L.C. (“Kohlberg”) is a leading U.S. private equity firm headquartered in Mount Kisco, New York. Since its inception in 1987, Kohlberg has completed 63 platform investments and more than 100 add-on acquisitions, with an aggregate transaction value of over $9 billion. Kohlberg has invested over $3 billion during its history and is currently investing its seventh private equity fund, Kohlberg Investors VII. For more information, visit www.kohlberg.com.