Private-equity firm GTCR acquires IL-based converter PPC Flexible Packaging
GTCR, a leading private-equity firm, has closed its acquisition of PPC Flexible Packaging of Buffalo Grove, IL. PPC is a leader in flexographic printing and converting of flexible films, bags, pouches and prototype packaging.
GTCR will partner with PPC CEO Kevin Keneally and the management team at PPC as they continue to grow the business and expand the company's suite of packaging solutions. As part of the transaction, GTCR expects to commit significant incremental equity to fund future acquisitions and expansion opportunities.
Founded in 2017 by Keneally, PPC has grown through acquisition and organic growth to become a leading provider of short- and medium-run flexible packaging solutions. It is a recognized pioneer in cleanroom packaging for healthcare and medical applications and snack and organic brands, as well as specialty produce, pet, nutraceutical, bakery and horticulture markets. PPC operates 10 manufacturing facilities in the US and South America.
"Kevin and the PPC team have built a remarkable business in a short period of time by acquiring differentiated packaging assets focused on attractive end markets," says GTCR Managing Director David Donnini. "We look forward to being partners with the PPC team and continuing their successful consolidation of high-quality flexible packaging companies."
Tom Ehrhart, principal at GTCR, adds, "PPC's innovative packaging solutions and dedication to exceptional customer service create a strong platform that sets the Company apart. We are thrilled to partner with Kevin and the PPC team."