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Bear Stearns appoints packaging expert as operating partner

Institutional private equity firm Bear Stearns Merchant Banking has appointed as a senior advisor Phil Yates, an executive with 35 years’ experience in the global packaging industry who wa

Institutional private equity firm Bear Stearns Merchant Banking has appointed as a senior advisor Phil Yates, an executive with 35 years’ experience in the global packaging industry who was most recently chairman and chief executive of Graham Packaging.

According to the private equity firm, as chief executive of Graham, a global provider of rigid plastic packaging, Yates helped to increase sales from USD500m to USD2.5bn and was responsible for initiating industry-wide changes through the development of new packaging technology.

‘I am excited by the opportunity to work with BSMB in identifying and assisting growth-oriented packaging companies,’ Yates says. ‘This position allows me to apply both my knowledge of the industry and my history serving major consumer packaged goods companies.’

Says BSMB managing director and partner Philip M. Carpenter: ‘We are pleased that Phil has chosen to join our firm. His vast experience and relationships make him a great asset to our packaging industry investment initiative.’

The principals of BSMB have identified the packaging industry as an area of investment focus and have dedicated significant resources toward this effort. BSMB’s portfolio currently includes Multi Packaging Solutions, a leading provider of print-based packaging, which has completed four acquisitions over the past three years.

BSMB, the private equity arm of Bear Stearns, invests private equity capital in leveraged buyouts, recapitalisations and growth capital opportunities alongside management teams. The firm focuses on making control or entrepreneur-driven investments, principally in middle-market retail, financial services and consumer products companies.

Since its establishment in 1997, BSMB has been an investor in more than 50 portfolio companies and currently manages nearly USD5bn in private equity capital, including its new USD2.7bn institutional fund and capital dedicated to its affiliate, Bear Growth Capital Partners.

Investments by BSMB include ACA Capital Holdings, Alter Moneta, Balducci’s, CamelBak Products, Caribbean Financial, Cavalry Investments, Churchill Financial, Dairyland, Everything But Water, Harlem Furniture, Ironshore, Multi Packaging Solutions, New York & Company, PlayCore, Seven For All Mankind, Stuart Weitzman, Transamerican Auto Parts Company and the Vitamin Shoppe.

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