Barings Announces Investment in Diversified Packaging
2024年7月22日 - 10:00PM
ビジネスワイヤ(英語)
Barings, one of the world’s leading investment managers, today
announced it has provided a second lien debt and equity
co-investment to support Mill City Capital’s recapitalization of
Diversified Packaging Holdings, LLC. Headquartered in Blaine,
Minnesota, Diversified Packaging is a provider of pre-press
products and services to the packaging industry, serving commercial
printing companies, corrugate packaging companies, and various
other customers across the upper Midwest U.S.
“Barings is excited to partner with Mill City Capital and their
portfolio company Diversified Packaging as the sole provider of
senior secured term debt for the deal,” said Steve Jarvis, Managing
Director in Barings’ Global Private Finance Group. “Diversified
Packaging is an attractive investment opportunity due to its strong
customer relationships, favorable industry tailwinds, and
differentiated, value-add service offerings.”
“We are grateful to have secured financing from Barings to
support Diversified Packaging’s future growth initiatives and look
forward to embarking on this next stage of growth. We believe the
Company is uniquely differentiated and well-positioned to continue
expanding its customer relationships, product and service
offerings, and geographic presence,” said Zander Rutlin, Partner at
Mill City Capital.
This transaction expands Barings’ $32.78 billion* Global Private
Finance platform, which leverages a deep bench of more than 80
investment professionals and a 30-year track record of providing
financing solutions to sponsors while generating attractive
risk-adjusted returns for investors.
About Barings
Barings is a $406+ billion* global asset management firm that
partners with institutional, insurance, and intermediary clients,
and supports leading businesses with flexible financing solutions.
The firm, a subsidiary of MassMutual, seeks to deliver excess
returns by leveraging its global scale and capabilities across
public and private markets in fixed income, real assets and capital
solutions.
*Assets under management as of March 31, 2024
About Diversified Packaging
Diversified Packaging is a manufacturer of flexographic plates
for use in the corrugate packaging industry as well as a value-add
distributor of pre-press products, specializing in printable
plastics for printing, graphic arts, and signage companies. The
Company operates across three brands – Plateworks Plus, Sharper
Image Engravers, and Adhue Graphic Resources – with products
ultimately used across a wide-range of end market applications,
such as food & beverage, retail, consumer, and industrial
industries, among others. The Company is headquartered in Blaine,
Minnesota, and maintains a diverse customer base across the upper
Midwest. For further information visit www.adhue.com,
www.sharperi.net, and www.plateworksplus.com.
About Mill City Capital
Based in Minneapolis, Minnesota, Mill City Capital is a private
equity firm that makes investments in lower middle market companies
with enterprise values ranging between $15 million and $100
million. Mill City focuses on companies headquartered in the
Midwestern United States, where Mill City Capital has built a vast
network of relationships. Working together for more than fifteen
years, the partners of Mill City Capital have led numerous
investments across a variety of consumer and industrial sectors.
For more information, please visit
www.millcitycapital.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240722115780/en/
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