Evolution Capital Partners has sold Innerpac, a manufacturer of corrugated and chipboard partitions in the US, to a strategic buyer.
"Evolution is proud to have partnered with the Innerpac management team, achieving the goal of creating a national partition company with a solid foundation for growth," says Evolution’s managing partner Brendan Anderson. "Innerpac president Gene Marino and his team are to be congratulated on their outstanding performance and achievements."
Mesirow Financial acted as Innerpac’s adviser on the transaction.
Evolution Capital Partners is a Cleveland, Ohio based private equity fund investing in businesses with opportunities for growth but which lack capital, management-team depth or expertise in certain critical competencies that are required in order to realise a company’s true potential. Evolution targets established companies with a history of profitability and free cash flow of USD500,000 to USD2m.
