Mill Rock Capital Forms New Packaging Platform, Acquires Trojan Lithograph
Mill Rock Capital (“Mill Rock”), a growth and operations oriented private investment firm, announced that it has created a new platform, Mill Rock Packaging Partners LLC (“Mill Rock Packaging Partners”), to invest in growth oriented companies with advanced service and product capabilities in the specialty packaging industry.
Mill Rock simultaneously announced that Mill Rock Packaging Partners has acquired Trojan Lithograph Corporation (“TrojanLitho”) from Arbor Investments. TrojanLitho is a leading, value-added provider of graphic paper packaging solutions to various consumer end markets. Terms of the TrojanLitho acquisition were not disclosed.
Mill Rock Packaging Partners is led by Chairman and Mill Rock Senior Partner Ed Rose and a senior leadership team including its board of directors:
- Dr. Robert Beckler, formerly President, Packaging Solutions of WestRock
- Robert Feeser, formerly President, Consumer Packaging of WestRock
- Charles Obermeyer, formerly SVP Global Operations – Folding at WestRock
- Alexander Zalesky, formerly General Manager of Amcor Latin America
- Mill Rock Senior Principals Diane Parisi and Eric Popham
“Together our team brings more than 200 years of global experience across every commercial and operational facet of the consumer packaging industry. We are excited about the future growth of the platform,” said Mr. Rose.
“TrojanLitho is an ideal foundation upon which to build a full-service packaging platform, with a complete spectrum of design, engineering and fulfillment solutions, and production capabilities spanning single-face laminate and folding carton,” stated Dr. Robert Beckler.
TrojanLitho, based in Renton, WA and founded in 1950, is Mill Rock Packaging Partners’ charter acquisition. The company is a leading, full-service provider of high-end, graphic paper packaging to blue chip and emerging brands in food and beverage, personal care, healthcare and other consumer end markets. TrojanLitho offers a full suite of design-intensive, sustainable packaging solutions. The company’s differentiated “end-to-end” service offering includes program development, design and engineering, pre-press and on-press, finishing and logistics.
“The company is on an impressive trajectory, having cultivated an attractive customer base underpinned by consumers’ daily needs. Going forward we will seek to accelerate organic growth, meaningfully expand operating capacity and support President and CEO Ian May and his accomplished team in completing strategic acquisitions in this highly fragmented market," added Mr. Rose.
“This is an exciting development for our customers, suppliers and many dedicated associates, as we continue to execute our strategic growth plan and expand production and fulfillment capabilities,” said Mr. May. “With strategic resources, operational insights and robust capital support from Mill Rock Capital, we look forward to continuing to deliver quality, sustainable packaging solutions to our many valued customers.”
Deloitte Corporate Finance LLC, Alvarez & Marsal Transaction Advisory Group, Lake Partners Strategy Consultants and White & Case LLP advised Mill Rock Capital on the transaction. BMO Sponsor Finance and PGIM Private Capital provided debt financing. The transaction is Mill Rock Capital’s fourth platform investment since inception. Jefferies LLC acted as financial advisor to Arbor on the transaction and Kirkland & Ellis LLP served as Arbor's legal counsel.
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.