H.I.G. Capital News
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H.I.G. Capital Completes Growth Investments in Action Packaging and Signature Flexible Packaging
MIAMI – January 5, 2021 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $42 billion of equity capital under management, is pleased to announce that one of its affiliates has completed simultaneous growth investments in Action Point, Inc (“Action” or “Action Packaging”) and Signature Flexible Packaging, Inc. (“Signature” and, together with Action, the “Company”). In conjunction with these investments, Action and Signature will combine to form a leading, full-service provider of flexible food and consumer packaging solutions.
Based outside Los Angeles, California, the Company offers small-to-medium sized consumer packaged goods customers a one-stop solution for flexible packaging needs across snacks, meats, candies, and baked goods. The Company operates three state-of-the-art facilities to provide consistent quality, unrivaled lead-times and a high-touch service model which supports low minimum order quantities.
H.I.G. is partnering with Howard Applebaum, Adrian Backer and Federico Giacobbe as well as the current management team to provide capital and resources to take advantage of the Company’s significant strategic growth initiatives and substantial consolidation opportunities represented by the fragmented flexible packaging industry.
Howard Applebaum, CEO of Action said, “This is a very exciting new chapter for our Company and a strong endorsement for Action, Signature and our highly talented team.” Adrian Backer, CEO of Signature added, “The Company has numerous opportunities to expand and H.I.G.’s capital and resources, particularly around M&A, will help us continue our successful growth trajectory.” Federico Giacobbe, EVP of Action, remarked, “We remain committed to providing outstanding products and service and believe our customers and employees will benefit greatly from H.I.G.’s support.”
“We believe the combination of Action and Signature represents an ideal opportunity to create a premier flexible packaging platform at a time when market tailwinds such as changing consumer preferences (e.g., convenience, on-the-go consumption) and shifts to lower cost packaging should continue to drive growth,” added Ryan Kaplan, Managing Director at H.I.G. “We look forward to supporting Howard, Adrian, Federico, and their respective management teams as they continue to broaden their customer base, product offering, geographic reach, and service capabilities through the Company’s next exciting phase of organic and inorganic growth.”
About Action Packaging and Signature Flexible Packaging
Action Point and Signature Flexible Package specialize in printing, conversion and supply of rollstock, pouches, and bags used for flexible food and consumer packaging applications. The Company serves small-to-medium sized consumer packaged goods companies across snacks, meats, candies, and baked goods. Headquartered outside Los Angeles, Action and Signature operate out of 3 facilities in Carson, CA, City of Industry, CA and Commerce, CA.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $42 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. 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.