TriPAQ, Inc., a custom corrugated packaging manufacturer specializing in retail packaging and displays; wood pallets and custom heavy duty crates; custom foam and packing inserts and related fulfillment services. TriPAQ was created by the merger of Triple A Containers and McDonald Packaging (“rightPAQ”), and the acquisition of Award Packaging.
Client Goals
The shareholders of this second generation, family-owned business wanted to leverage TriPAQ’s position in a rapidly consolidating industry, and to take advantage of an active M&A market. The majority shareholder sought liquidity and wished to remain active in the business, while minority shareholders wished to transition out.
555 Capital Solution
Sale of 100% of the Company with a negotiated employment contract for the shareholders.
Following a marketing process that generated substantial interest from a number of qualified bidders, 555 negotiated a highly strategic sale to New-Indy Container Board, LLC, a joint venture by the Kraft Group and Schwarz Partners with extensive investments in the industry. 555 leveraged its deep industry knowledge and relationships to negotiate a valuation exceeding recently-reported comparable transactions and an optimal structure for our client.
“When we initiated a roll-up strategy by merging Triple A, rightPAQ, and Award Packaging eighteen months ago, we didn’t anticipate such a quick exit,” noted McCroskey. “555 Capital’s recent sales of other paper and packaging companies made us realize there is a strong market today, so we decided to move quickly. 555 Capital delivered the right buyer at a great valuation for us.”
- Brad McCroskey, CEO and co-chair, TriPAQ, Inc.