Sale of Specialized Packaging Group
Montreal, February 4, 2021 – The recent acquisition of Montreal-based Specialized Packaging Group Inc. (“SPG” or the Company) by private equity firm Altamont Capital Partners (“ACP”) will result in the creation of new jobs, particularly in Quebec, announced its founder, Paul Gaulin.
Headquartered in Pointe-Claire, SPG is an integrated provider of protective packaging products that operates two divisions, IVEX and Engineered Packaging, with 16 facilities in the United States, Canada and Mexico. Founded 40 years ago by Paul Gaulin, SPG has grown steadily to become a leader in the specialty packaging industry throughout North America.
ACP is a private investment firm based in Palo Alto, California, with more than $2.5 billion of assets under management, focused on investing in middle market businesses.
“The dimension of the transaction, especially when considering that it transpired in the eye of the COVID storm, represents the culmination of my lifetime efforts and reflects the strong performance—both current and historic—and robust foundations of the business, the excellent reputation that SPG enjoys in a highly competitive market and in its industry, and, most importantly, the solid growth potential and prospects for SPG in the years to come,” said Paul Gaulin, for whom the transaction marks an important step in his entrepreneurial career.
Mr. Gaulin added, “the Company is in good hands and I am very proud and excited to remain a partner. I would like to express my thanks to all our employees, customers, suppliers and partners, whose support has been essential over the past years. I also wish to express my deepest gratitude to our Chief Financial Officer, Ms. Caroline Bourdon, for her role in completing this transaction.”
Raymond Chabot Grant Thornton acted as financial advisor, and BCF Business Law and Morency, Société d’avocats, LLP served as legal counsel to SPG.