Chicago Investors Acquire Midland Container
Small Business Times - Milwaukee and Southeastern Wisconsin Business News
Chicago-based Arbor Investments has completed its acquisition of Midland Container Corp. in Franksville, Wis.
Midland produces value-added corrugated packaging and display products.
In conjunction with the acquisition, Arbor operating partner Sieg Buck, a former senior executive for Newell-Rubbermaid, has been named chief executive officer of Midland.
The current management team will continue in their respective roles with the company. Financial terms of the acquisition were not disclosed.
Founded in 1947 by the Gerlach family, Midland manufactures corrugated shipping containers, custom-designed industrial packaging and full-color point-of-purchase displays. The company also provides an array of value-added services in structural design, front-end creative design, just-in-time (JIT) inventory management, packout and fulfillment.
“We are excited to be acquiring a company the caliber of Midland Container,” said Arbor vice president Richard Boos. “Midland’s outstanding reputation as a market leader in product quality and service provides the ideal foundation for accelerating the Company’s growth.”
Arbor Investments is one of the only private equity firms in North America that solely invests in the food, beverage and related industries. The firm has $236 million of capital under management across two private equity funds.
Boos said Arbor anticipates future growth for Midland.
“Employees and facilities will grow with the company,” Boos told SBT. “We feel that it’s a great platform for growth.”
Midland Container represents Arbor’s second investment in a Wisconsin-based company. Previously, Arbor owned and then sold its interests in Mexican Accent Inc., the manufacturer of Manny’s branded tortillas, located in New Berlin.
Arbor remains interested in making investments in other Wisconsin companies, Boos said.
“We’re always interested in something nearby, given our location in Chicago,” he said. “And the area (Wisconsin) is a big interest. It’s got a lot of food and beverage (companies).”
“Our partnership with Arbor will be a tremendous asset to the company going forward” said John Grow, chief operating officer of Midland. “Arbor brings a full complement of strategic, financial and operational resources to bear as we seek to build on our historically strong presence in the food and beverage packaging segment.”