Multi Packaging Solutions Announces Acquisition of Steketee-Van Huis and Intent to Acquire Hilltop Press
FOR IMMEDIATE RELEASE
New York, NY – April 11, 2006 Multi Packaging Solutions, Inc. (“Multi Packaging Solutions”), a specialty print-based packaging company and a portfolio company of Bear Stearns Merchant Banking (“BSMB”), today announced that it has completed the acquisition of Steketee-Van Huis, Inc. (“SVH”). SVH is headquartered in Holland, MI and provides packaging solutions for the pharmaceutical, multimedia and consumer markets. The acquisition provides SVH with resources that will be used to expand the business and offers Multi Packaging Solutions complementary technology and capacity to support its growing customer base. Terms of the transaction were not disclosed.
In addition, Multi Packaging Solutions today announced that it has signed a letter of intent to acquire National Graphics, Inc. d/b/a Hilltop Press. Hilltop Press is headquartered in Indianapolis, IN and provides specialty high-end printed-packaging for the multimedia and consumer markets. Hilltop’s ability to manufacture products across a broad spectrum of materials including paper, paperboard, plastic and metal broadens Multi Packaging Solutions’ product offering. The transaction is expected to close within the next 30 days. Terms of the transaction were not disclosed.
Marc Shore, Chief Executive Officer of Multi Packaging Solutions commented, “SVH and Hilltop provide significant contributions to Multi Packaging Solutions’ strategic plan. Both companies have demonstrated a consistent history of growth, technological excellence and great customer service. We look forward to working with these extremely talented management teams.”
Ted Etheridge, President and Chief Executive Officer of SVH stated, “I am excited about partnering with Multi Packaging Solutions as both an operator and an investor. This combination is a strong match for our business and will provide SVH with additional resources that we will use to better serve our customers. We look forward to joining the Multi Packaging Solutions family as the combination brings new opportunities for our employees and the local community.”
“SVH and Hilltop are tremendous additions to the growing Multi Packaging Solutions platform,” said Phil Carpenter, Managing Director of BSMB. “Both companies bring outstanding teams and print capabilities and we’re pleased to welcome our new partners to Multi Packaging Solutions.”
About Multi Packaging Solutions:
Multi Packaging Solutions, Inc. (“Multi Packaging Solutions” or the “Company”) is a leading provider of specialty print-based packaging products to the pharmaceutical, multi-media and consumer markets. Multi Packaging Solutions’ product offerings include folding cartons, labels, inserts/outserts, security tags, blister cards, amaray and jewel case slip sheets, instruction manuals, pixie tags, brochures and a wide variety of other packaging solutions. In addition, the Company is able to provide these solutions across a variety of substrates (e.g., paper, paperboard, plastic) and finishes (e.g., UV coatings, film lamination, embossing).
About Steketee-Van Huis:
SVH, founded in the early 1920’s, is a provider of sheet-fed offset paperboard packaging, sheet-fed commercial print and small-format digital output for the pharmaceutical and value-added consumer markets. The company operates two facilities in Holland, Michigan and employs approximately 100 people. More information on SVH can be found at www.svhgroup.com.
About National Graphics d/b/a Hilltop Press:
Hilltop, founded in 1970, is a high-quality print provider with a mix of core commercial print products and special niche offerings. The company operates a single 140,000 sq. ft. facility in Indianapolis, IN and has approximately 110 employees. More information on Hilltop can be found at www.hilltoppress.com.
About BSMB:
Bear Stearns Merchant Banking, the private equity affiliate of Bear Stearns & Co. Inc. (NYSE: BSC) invests private equity capital in compelling leveraged buyouts, recapitalizations and growth capital opportunities alongside superior management teams. BSMB currently manages more than $3.8 billion of private equity capital. Since its inception in 1997, BSMB has been an investor in 42 portfolio companies across a broad range of industries. In addition to Multi Packaging Solutions, investments by BSMB include: ACA Capital Holdings, Balducci’s, CamelBak Products, Cavalry Investments, New York & Company, Reddy Ice, Seven for all Mankind, Stuart Weitzman, Transamerican Auto Parts and Vitamin Shoppe. More information about BSMB can be found at www.bsmb.com.
