TKO Miller Advises HFM Packaging, Ltd. on its Sale to PPC Flexible Packaging, LLC, a Portfolio Company of Morgan Stanley Capital Partners
MILWAUKEE, WI (February 6, 2019) – TKO Miller is pleased to announce the successful sale of HFM Packaging, Ltd. to PPC Flexible Packaging, LLC, a portfolio company of Morgan Stanley Capital Partners, the middle market private equity investment team within Morgan Stanley Investment Management.
HFM Packaging, Ltd. (HFM), located in Pewaukee, Wisconsin, is a leading flexible packaging company specializing in manufacturing peel and re-seal products, lidstock, and stand-up pouches. For over 40 years, HFM has supported some of North America’s largest flexible packaging companies and consumer brands in the design, material selection, and manufacturing of specialty flexible packaging applications.
Headquartered in Buffalo Grove, Illinois, PPC Flexible Packaging, LLC (PPC) manufactures and converts flexible plastic films, pouches, and bags sold to customers worldwide. Founded in 1968, PPC is a trusted leader within the consumer and cleanroom markets.
“This was an ideal result for both HFM and PPC,” said Joe Froehlich, Managing Director, TKO Miller. “Paul Martinez, HFM’s President and Jon Riggs, HFM’s Executive Vice President, have built a highly successful specialty packaging business, and PPC’s team will provide a smooth transition and greater resources to continue its growth.”
“This is PPC’s second acquisition in the last six months,” said Kevin Keneally, CEO of PPC. “HFM’s market- leading position in peel and re-seal applications, stand-up pouches, and packaging for hard-to-hold liquids lines up perfectly with our existing customer base and markets, allowing us to advance our growth strategy.”
“Selling your Company is emotional and finding the right buyer for your company is important. We are proud of the culture of excellence that we created at HFM and believe that PPC will continue that legacy and continue to serve our customers with high quality products and service and be a great place to work,” said Paul Martinez, President, and son of Harvey Martinez who founded HFM in 1976.