Arbor Investments, based in Chicago, Illinois, announced today that it has completed the sale of its Fund II portfolio companies Midland Container and Great Lakes Packaging to Green Bay Packaging, Inc. Midland and Great Lakes were owned by Midcon Holdings. Located in Franksville, WI and Germantown, WI, the companies manufacture high-quality custom point of purchase and point of sale corrugated displays, as well as corrugated packaging for the consumer packaged goods industry. Terms of the sale were withheld.
MidCon Holdings was established by Arbor Investments in 2008 to complete the purchase of Midland Packaging and Display. In December 2011, MidCon purchased Great Lakes Packaging and formally put the two companies together to form one of the top independent Wisconsin-based manufacturers in the corrugated industry. Focusing on customers primarily in Wisconsin, Minnesota and Illinois, the companies serve the consumer products industry and the greater food and beverage industries throughout the upper Midwest. The companies have long enjoyed reputations for high-quality products and have won numerous industry awards over the years, including, the Milwaukee Business Journal’s Top Workplaces 2012. Midland is led by Terry Skalmoski, President and Great Lakes by Jim Nelson, President.
“The Midland and Great Lakes teams have come together and built a formidable corrugated packaging supplier in the greater Milwaukee area. We have been extremely happy with the growth of the companies under Terry’s and Jim’s leadership,” said Sieg Buck, CEO, MidCon Holdings.
“Arbor’s investment in MidCon is a story of phenomenal growth against the backdrop of a tepid macroeconomic environment,” said Richard Boos, Partner, Arbor Investments.
“The MidCon investment has been another excellent Fund II investment and a real success story in the corrugated industry,” said Brody Lynn, Vice President, Arbor Investments.
Robert W. Baird & Co., Inc. acted as exclusive financial advisor to MidCon Holdings in connection with the transaction. DLA Piper LLP (US) served as MidCon’s legal counsel and von Briesen & Roper, S.C. served as counsel to Green Bay.