H.I.G. Capital News
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Dazpak Flexible Packaging, an H.I.G. Capital Portfolio Company, Completes Acquisitions of Atlapac Corporation and the Inno-lok Division of Polymer Packaging
MIAMI – August 2, 2022 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $50 billion of equity capital under management, is pleased to announce that its portfolio company, Dazpak Flexible Packaging (“Dazpak” or the “Company”), has completed the acquisitions of Atlapac Corporation (“Atlapac”) and the Inno-lok Division of Polymer Packaging (“Polymer”).
Headquartered in Columbus, Ohio, Atlapac is a flexible packaging and pouch converter serving the food & beverage, homecare, and healthcare end markets. The acquisition strengthens the combined companies’ ability to provide flexible packaging solutions and services in the Midwest and will accelerate Dazpak’s entry into new products and markets.
Headquartered in Massillon, Ohio, Polymer is one of the leading converters of inno-lok pouches primarily focused on the food & beverage end market. Polymer’s assets will be merged with Atlapac post-close.
Paul Unrue, President of Atlapac commented, “We are pleased to have a growth-oriented partner in Dazpak. The combination will allow us to provide a more comprehensive suite of flexible packaging solutions to our clients in the Midwest and West Coast. This is an exciting new chapter in the Atlapac growth story.”
“We are excited about the strategic expansion of our flexible packaging offerings into the Midwestern U.S.,” commented James Rooney, Chief Executive Officer of Dazpak, adding “Atlapac and Polymer not only allow us to expand outside our core Western U.S. markets, but also significantly expand our customer footprint and portfolio of flexible packaging solutions.”
“We are thrilled to partner with Paul Unrue and the Atlapac and Polymer teams.,” said Ryan Kaplan, Managing Director at H.I.G. Capital. “These acquisitions fit perfectly into Dazpak’s investment thesis, which includes aggressively pursuing M&A to help broaden the Company’s customer base, product offering, geographic reach, and service capabilities.”
Atlapac and Polymer represent the third and fourth add-on acquisitions that Dazpak has completed since H.I.G. acquired the Company in late 2020.
About Dazpak Flexible Packaging
Dazpak is a flexible packaging company that prints and converts a full spectrum of flexible packaging solutions for the food & beverage, health & beauty, pet food, pharmaceutical, nutraceutical, and agricultural markets. Products include printed laminated rollstock, stand-up zipper pouches, stick packs and sachets, shrink sleeves, pressure sensitive labels, unprinted rollstock, pouches, bags and more. For more information visit: dazpak.com
About Atlapac Corporation
Founded in 1985 by the Staeck family, Atlapac Corporation is a leading manufacturer and distributor of pouches and bags to a diversified customer base throughout the Midwest. Atlapac provides customers a comprehensive flexible packaging solution that fit their specific need. For more information visit: www.atlapac.com
About Inno-lok Division of Polymer Packaging
Polymer Packaging is the leading converter of the INNO-LOK pouches utilized in the food and beverage end markets. The INNO-LOK pouch converts existing non-zippered products in form-fill-seal roll stock with recloseable zipper packaging.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $50 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.