Mesirow Advises Oliver Products on its Sale to an Affiliate of Berwind Corp.
CHICAGO—April 23, 2012—Mesirow Financial, Inc. acted as exclusive financial advisor to Oliver Products Company (“Oliver Products” or the “Company”) in its sale to an affiliate of Berwind Corporation (“Berwind”), a family-owned investment management company.
Oliver Products, headquartered in Grand Rapids, Michigan, is one of the world’s leading producers of sterile-grade medical device packaging and pharmaceutical packaging, producing the industry’s highest quality and most innovative products. The Company sells its healthcare packaging products to nearly every major, globally-recognized medical device company. Additionally, the Company, through its food packaging & equipment segment, is the largest supplier in complete food packaging solutions for Meals on Wheels in the United States. Oliver Products was a portfolio company of Mason Wells, a leading Midwest-based private equity firm.
Jerry Bennish, chief executive officer of Oliver Products, said “Mesirow Financial’s depth and knowledge of the packaging industry and its diligent and professional approach resulted in a transaction that is extremely satisfying to our Company and our shareholders. As CEO of the Company, I could not be more excited to partner with Berwind in taking Oliver Products to the next level of growth.”
Louis Mitchell, managing director, added, “Mesirow Financial is honored to have had the opportunity to work with Oliver Products and Mason Wells on this industry-defining transaction. The Company is an impressive business with a first-rate reputation, and the sale process generated significant interest from numerous strategic and financial buyers.”
The transaction represents another successful assignment completed by Mesirow Financial’s Investment Banking group. Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed over 80 transactions in recent years.
About Oliver Products Company
Oliver Products Company, based in Grand Rapids, Michigan, has been developing and manufacturing innovative solutions for diverse markets since 1890. Oliver Products Company is comprised of two leading businesses: Oliver-Tolas Healthcare Packaging and Oliver Packaging & Equipment Company. Oliver-Tolas Healthcare Packaging is one of the world's leading producers of sterile-grade medical device packaging and pharmaceutical packaging with manufacturing and coating facilities in Grand Rapids, Michigan; Feasterville, Pennsylvania; Hamilton, Ohio; and Venray, the Netherlands. Oliver Packaging & Equipment Company has a long and evolved history in food equipment manufacturing and innovative food packaging solutions. Originally started as a wood working equipment company, the Company introduced the first bread slicer in 1932. By 1944, a line of wrapping and labeling equipment complimented the bread slicers, launching Oliver into packaging system solutions.
About Berwind Corporation
Berwind Corporation is a family-owned investment management company. With its roots dating to 1886, Berwind Corporation has evolved from its beginning as a coal mining company, to a diversified portfolio of highly successful manufacturing and service companies, which are leaders in their market niche. Representing several billion dollars in enterprise value, these companies serve a number of industries including pharmaceutical, specialty chemical, office and craft, automotive, pet food and natural resources.
About Mason Wells
Mason Wells is a leading Midwest-based private equity firm that manages more than $800 million of capital through the Mason Wells Buyout Funds. Since 1982, Mason Wells has closed more than 80 transactions through the Mason Wells Buyout Funds and its predecessor funds. Mason Wells focuses its investments in the packaging and packaged Goods, engineered products & services and outsourced business services industries. For more information relating to Mason Wells, visit www.masonwells.com.
About Mesirow Financial
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Celebrating its 75th anniversary this year, the firm remains independent and employee-owned with approximately 1,200 employees globally. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information about Mesirow Financial, visit our website at www.mesirowfinancial.com.
