Multi-Packaging Solutions acquired by second PE firm

US packaging producer Multi-Packaging Solutions (MPS) has been acquired by private equity investment firm Madison Dearborn Partners from its current owner, Irving Place Capital, another private equity firm.

MPS is a manufacturer of high-quality printed folding cartons, labels and inserts for customers in the healthcare, consumer and media end markets.

MPS has experienced significant growth since Irving Place Capital's initial investment and now operates 16 manufacturing facilities in the US and Europe, with approximately 2,600 employees worldwide.

It was recently confirmed as one of the early adopters of HP Indigo’s new digital press for folding cartons, the 30000.

Marc Shore, chief executive officer at MPS, said: ‘The growth MPS has achieved over the last eight years would not have been possible without the support of our customers, employees and lrving Place Capital.

‘We are excited to partner with Madison Dearborn Partners to capitalize on the significant opportunities available to expand and develop our business. It has substantial experience in the packaging industry, and our new partnership will allow us to accelerate growth while continuing to provide high-quality products and outstanding service to our global customers.’

Tom Souleles, a managing director at Madison Dearborn Partners, said: ‘Marc and his team have created a unique company with an unmatched global platform and significant potential for future growth.

‘We believe our experience in supporting packaging businesses will be a real asset to the company as it enters into its next growth phase. We are excited to support the senior team and the company's employees to build on their track record of success and to help the company reach new heights in its capabilities to service global customers.’

Phil Carpenter, a senior managing director at Irving Place Capital, said: ‘In 2005 we backed entrepreneur Marc Shore with the shared vision of creating a packaging company that didn't exist in the marketplace.

‘Over the past eight years, Marc and the MPS management team have seized that opportunity - completing seven add-on acquisitions, entering new end markets, and investing aggressively to establish a global business to reach new customers. We have enjoyed supporting the team in building MPS and extend our best wishes for their continued success.’