Deal Details

Inno-Pak Is Acquired by Handgards

Industrial

Inno-Pak, a portfolio company of Emerald Lake, sale to Handgards, a portfolio company of Wynnchurch

Summary

InnoPak Holdings, LLC (“Inno-Pak” or the “Company”), a portfolio company of Emerald Lake Capital Management (“Emerald Lake”), was recently acquired by Handgards, LLC (“Handgards”), a portfolio company of Wynnchurch Capital, L.P. (“Wynnchurch”). Terms of the transaction were not disclosed.

Baird served as lead advisor to Inno-Pak on this transaction.

About

Inno-Pak is a leading designer, manufacturer, importer and supplier of innovative, eco-friendly, high-quality prepared and takeout food packaging for the foodservice, grocery, convenience store and hospitality industries. The Company holds more than 170 design and utility patents on products ranging from nested paper takeout containers, soup cups and transparent lids, flat bottom laminated bag systems for rotisserie chickens and multi-substrate bakery / deli cartons. Inno-Pak’s products span multiple substrates, including paperboard, paper, flexible films, rigid plastic and corrugated. The Company opened its first scaled domestic production facility in 2023 which included an expansion of its primary distribution center, providing sheeting / printing, die cutting, windowing, gluing & forming and design services. Inno-Pak is headquartered in Delaware, Ohio.

Emerald Lake is a middle market private equity firm investing in capital-efficient businesses with sustainable competitive advantages and strong growth prospects in the industrials and services sectors. Emerald Lake seeks to accelerate company growth and unlock potential through supportive, trusting partnerships with management teams and a proven-value creation strategy. Founded in 2018, the firm manages approximately $1.4 billion of equity capital across its portfolio. Emerald Lake is headquartered in Santa Monica, California.

Handgards is a leading distributor of foodservice products, including disposable gloves, reclosable bags, tabletop items, expendables and other carryout products. Handgards is headquartered in El Paso, Texas.

Wynnchurch was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the 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. The firm is headquartered in the Chicago suburb of Rosemont, Illinois, with an affiliate in Canada.

Industrial

Inno-Pak, a portfolio company of Emerald Lake, sale to Handgards, a portfolio company of Wynnchurch