Ardian Announces Sale of Its Investment in Soteria Flexibles to TJC
Ardian, a private investment house, has sold its investment in Soteria Flexibles Holdings LLC to TJC LP (TJC). With the Ardian North America Fund team’s support, today Soteria Flexibles is a North American leader in short-run, custom flexible packaging manufacturing serving the healthcare, fresh food, industrial, foodservice, janitorial/sanitation and commercial markets.
Led by CEO Brad Herbolsheimer and headquartered in Carol Stream, IL, Soteria Flexibles was created in 2019 following Ardian’s platform acquisition of Colonial Bag, a family-owned company based outside Chicago. It provides customized high-quality packaging products in relatively small volumes to specialized businesses in underserved, high-growth sub-segments that need tailored specifications.
Under Ardian’s ownership over the last four years, and led by the company’s management team, Soteria Flexibles grew via continued acquisitions and investments into capacity, operations, talent and infrastructure. The company completed four highly accretive acquisitions within the flexible products industry: RediBag, Continental Products, Phoenix Plastics and Film Tech. It transformed from a single-plant family-owned business into a leading player in the national flexible packaging and films market with broad capabilities, four plant locations, a highly flexible operating model, strong distribution network, and a fundamental infrastructure to support future add-on acquisitions.
“It has been a privilege partnering with Ardian since the creation of Soteria in 2019. Ardian’s support, insights and resources have been instrumental in Soteria’s ability to innovate and accelerate growth in a segment of the flexibles packaging industry that has historically been segmented and underrepresented. We look forward to continuing our successful journey and cementing our position as a national leader in high-performance films and flexible package manufacturing,” said Brad Herbolsheimer, Chief Executive Officer, Soteria Flexibles.
“Soteria has been a highly successful investment for ANAF II's investors, and we would like to thank Brad and the entire Soteria team for their commitment, consistent hard work, and confidence in our plans for Soteria when the company was first conceived. We are proud of Soteria’s journey and the robust market share and value it holds today only four years later,” said Vincent Fandozzi, Head of North America Fund, Adrian.
“Soteria Flexibles’ impressive evolution, highly flexible operating model, and repeatable M&A platform have positioned it for future expansion. We are eager to see what the management team will accomplish in the company’s next chapter, building on the impressive growth achieved to date,” said Todd Welsch, Managing Director North America Fund, Adrian.
No additional financial details from the transaction were disclosed.
LIST OF PARTICIPANTS
Ardian
Ardian's Advisor: William Blair
Legal Advisor: Sheppard, Mullin, Richter & Hampton LLP
The preceding press release was provided by a company unaffiliated with Packaging Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Packaging Impressions.
