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Raymond Chabot Grant Thornton’s Corporate Finance team is pleased announce the successful sale of IVEX, Induspac and Estapack (together the “Specialized Packaging Group’’ or ‘‘SPG”) to Palo Alto-based Altamont Capital Partners (“Altamont”).
Founded more than 40 years ago in Montreal, Quebec, SPG is one of the largest independent vertically integrated manufacturers of protective packaging in North America. SPG has grown organically and by way of acquisitions to more than 1,000 employees and operates under two divisions, IVEX and Engineered Packaging.
IVEX, which has six facilities in the US, Canada and Mexico, manufactures a range of packaging materials, including polyethylene foam, cold chain products and other protective packaging products. Engineered Packaging, which is comprised of Induspac and Estapack, designs and manufactures customized packaging solutions at eight facilities in the US and Mexico using a variety of materials, including polyethylene foam, corrugated cardboard and wood.
SPG called on Raymond Chabot Grant Thornton’s Corporate Finance experts to advise on the sale of the company.
“In the context of the sale of Specialized Packaging Group, the contribution of Raymond Chabot Grant Thornton was exceptional in all respects. This transaction would never have been possible without their dedication and expertise . The members of the RCGT team who assisted us in this process demonstrated professionalism, rigor, resilience and perseverance,” states Caroline Bourdon, CFO, Specialized Packaging Group. “I had the opportunity to work with experts from several departments (Financial Advisory, Audit, Tax, Cybersecurity) and in all instances, the level of knowledge surpassed my expectations. RCGT’s ability to quickly understand the complexity of the business operating in four jurisdictions (Canada, the United States, Mexico and Israel) was remarkable. Furthermore, concluding a transaction of this size during the COVID-19 pandemic is a major achievement in my eyes.”
“When giving consideration to the sale of our 44-year-old company, my CFO and I first proceeded to research the best mergers and acquisitions firm in Montreal to partner with. Following a rigorous exercise, we selected RCGT’s Corporate Finance team,” states Paul Gaulin, CEO and founder of Specialized Packaging Group. “Our decision was based on their ability to provide a complete package with the full range of experience and know-how required for all aspects and every stage of the transaction—and we did not regret our decision! In my opinion and after having spent more than four decades acquiring, selling and merging businesses, I can vouch that RCGT is clearly among the top M&A firms in Montreal, backed by a very strong team and excellent tax professionals as well. To anyone looking to hire an M&A firm, I would not hesitate to recommend that you meet with their team before finalizing your decision.”
To learn more about how Raymond Chabot Grant Thornton can help meet the needs of your business, please contact our deal team.
About Raymond Chabot Grant Thornton
Our leading mid-market focused financial advisory team provides sector-specific advice on mergers, acquisitions and divestitures, debt and equity capital markets. We bring deep industry knowledge to each transaction to support our clients’ corporate finance strategies and priorities.
Raymond Chabot Grant Thornton is a Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization. Raymond Chabot Grant Thornton is Quebec’s leading professional services firm with more than 2,800 employees. As a member firm of the Grant Thornton International network and together with its Canadian counterpart Grant Thornton LLP, the firm is a member of one of the world’s largest professional services network made up of 56,000 people in over 140 countries.