Capstone Partners advised Harbor Foam on its sale to Alleguard, a portfolio company of Wynnchurch Capital.
Headquartered in Grandville, Michigan, Harbor Foam is a manufacturer of expanded polystyrene (“EPS”) and serves a diverse customer base across the construction, packaging, recreational vehicles, and general industrial end markets. EPS foam products, characterized by their closed-cell structure and ability to be molded into various shapes and sizes, provide excellent thermal insulation, impact resistance, and moisture resistance, making them ideal for a multitude of applications ranging from insulation in buildings to protective packaging for delicate goods. Harbor Foam primarily services markets located in the Midwest region within states such as Michigan, Indiana, Ohio, and Illinois. For more information, please visit: harborfoam.com.
Harbor Foam has a long history of strong performance through a variety of macro-environments, a testament to its value-add to customers and strong operational management. Alleguard’s acquisition of Harbor Foam reflects private equity-backed strategics’ proven playbook of expanding geographic coverage and production capacity and adding end-markets and product categories through add-on acquisitions.
Alleguard is a manufacturer and distributor of custom EPS, EPP, and ARCEL foam products. It is a portfolio company of private equity firm Wynnchurch Capital and serves the packaging, appliance, building products, cold chain, automotive, consumer, and other general industrial end-markets. For more information, please visit: alleguard.com.
Paul Ciolino, CEO of Alleguard, said, “We’re thrilled to bring Harbor Foam into the Alleguard Family. Harbor Foam has a strong reputation for its high-quality products and excellent customer service.” Ciolino added, “This partnership will enable Alleguard and Habor Foam to better serve our growing Midwest customer base.”
Wynnchurch Capital, L.P. is a leading middle-market private equity investment firm founded in 1999. Wynnchurch’s strategy is to partner with middle-market companies in the United States and Canada with potential for substantial growth and profit improvement. Wynnchurch manages a number of private equity funds with $9.2 billion of regulatory assets under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs, and restructurings. For more information, please visit: wynnchurch.com.
The expert investment banking professionals on Capstone Partners’ Industrials Team work with leading middle market companies operating in the Packaging market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our Packaging Banking Team, contact us here.
