Description
|
 | Leading manufacturer of injection molded plastic containers, cups, and closures |
Transaction
|
| Acquired in June 1996 by AEP II and co-investors |
Rationale
|
| First Atlantic industry focus: Plastics packaging |
| Growing market with extremely fragmented competition |
| Excellent platform for related add-on acquisitions |
| Superior management team
|
First Atlantic Value-Added
|
| Focused on growth of higher margin product lines |
| Strengthened value-added capabilities |
| Invested in and upgraded systems and manufacturing technology |
| Aggressively and systematically pursued acquisition opportunities |
Results
|
| Completed 12 add-on acquisitions and grew revenues and EBITDA 22.6% and 23.8% per annum, respectively |
| Sold in 2002 for a 3.1x return and a 22% IRR in 5 years |
