Tharco Containers, Inc. ("Tharco"), a portfolio company of Tricor Pacific Capital, Inc. ("Tricor"), a private equity firm with offices in Vancouver, BC and Lake Forest (Chicago), IL, has acquired Design Packaging, Inc. ("Design Packaging"). Design Packaging is a leading independent sheet plant located in Lithonia (Atlanta), Georgia. Design Packaging manufactures and sells custom corrugated products and point-of-purchase displays, and has 190,000 square feet of combined manufacturing and warehouse space.
In conjunction with the acquisition of Design Packaging, Tharco completed a recapitalization which included a $145.0 million senior secured credit facility led by GE Antares Capital and GE Capital Markets. Subordinated financing was provided by S.A.C. Capital Advisors, L.L.C.
Design Packaging provides Tharco an entry into the Southeast U.S. corrugated market, one of the largest in the country. Bo Fears, Tharco's CEO stated, "Design Packaging brings a great market reputation, diverse product lines in specialty business segments, capabilities in a new product line, point-of-purchase displays, an excellent employee group, and an outstanding opportunity to introduce our stock box program to the Southeast."
Brad Seaman, Managing Director of Tricor, added, "We intend to capitalize on Design Packaging's regional leadership and its ability to deliver high levels of service, design and product variety to its market."
Design Packaging is Tharco's second strategic acquisition since being acquired by Tricor in July 2005. In June 2006, Tharco acquired Capital City Container of Buda (Austin), Texas.
About Tharco Packaging
Tharco is the United States' premier independent manufacturer and distributor of a broad range of value-added corrugated, foam and plastic packaging solutions for a variety of customers and end markets. The company serves as a single-source for all of its customers' protective packaging needs, offering the most comprehensive stock box inventory in the industry with over 1,600 SKUs. Tharco maintains plants and distribution centers in 11 locations. To learn more about Tharco, visit www.tharco.com.
About Tricor Pacific Capital
Tricor Pacific Capital, Inc. is a leading private equity firm that invests in profitable, well-managed, middle-market companies located in the West and Midwest regions of the United States and Canada. Tricor currently manages approximately $1 billion of capital, and is investing its fourth fund with $555 million in committed capital.