Private equity firm Wellspring Capital Management has completed its acquisition of Hoffmaster Group, a North American manufacturer of disposable tableware, from Metalmark Capital.
Financial terms of the deal have not been disclosed.
“We would like to thank the Metalmark team for its dedicated support over the past five years,” says Rory Leyden, chief executive officer of Hoffmaster. “Metalmark’s expertise and strategic counsel have been integral to our success as a market-leading North American designer, manufacturer and supplier of decorated, premium disposable tableware. Looking forward, we are excited to welcome our new partnership with Wellspring as we begin to collaborate with the Wellspring team to build off the strong momentum we have established with Metalmark and continue to execute our growth strategy. With our new partners at Wellspring, we will continue to serve our valued consumer retail and foodservice customers by providing high-quality products and services to best meet continued strong demand.”
For more than 69 years, Hoffmaster’s mission has been to create and deliver dining and entertaining products that help transform everyday and special events into memorable occasions. Hoffmaster delivers innovative and disposable tableware, including paper plates, cups and napkins, to the foodservice, consumer and contract manufacturing segments that it serves.
“We thank Rory and his management team for their outstanding performance and achievements,” says Leigh Abramson, a partner of Metalmark. “Working with them has been very rewarding and we are proud of the company’s growth over the past few years. Given Wellspring’s expertise and Rory’s excellent leadership, we are confident that Hoffmaster will continue to succeed.”