Wellspring Capital Acquires Hoffmaster Group from Metalmark Capital
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OSHKOSH, Wis.--(BUSINESS WIRE)-- Hoffmaster Group, Inc. (“Hoffmaster” or the “Company”), a leading North American manufacturer of disposable tableware, today announced the completion of its acquisition by Wellspring Capital Management LLC (“Wellspring”), a leading middle-market private equity firm, from Metalmark Capital (“Metalmark), a New York-based private equity firm. Financial terms of the agreement were not disclosed.
“We would like to thank the Metalmark team for its dedicated support over the past five years,” said Rory Leyden, Chief Executive Officer of Hoffmaster. “Metalmark’s expertise and strategic counsel have been integral to our success as a market-leading North American designer, manufacturer and supplier of decorated, premium disposable tableware. Looking forward, we are excited to welcome our new partnership with Wellspring as we begin to collaborate with the Wellspring team to build off the strong momentum we have established with Metalmark and continue to execute our growth strategy. With our new partners at Wellspring, we will continue to serve our valued consumer retail and foodservice customers by providing high-quality products and services to best meet continued strong demand.”
For more than 69 years, Hoffmaster’s mission has been to create and deliver dining and entertaining products that help transform everyday and special events into memorable occasions. Hoffmaster is a customer-centric company that delivers innovative and disposable tableware, including paper plates, cups and napkins, to the foodservice, consumer, and contract manufacturing segments that it serves.
“We thank Rory and his management team for their outstanding performance and achievements,” said Leigh Abramson, a Partner of Metalmark. “Working with them has been very rewarding and we are proud of the Company’s growth over the past few years. Given Wellspring’s expertise and Rory’s excellent leadership, we are confident that Hoffmaster will continue to succeed.”
Robert W. Baird & Co. served as financial advisor and Davis Polk & Wardwell LLP acted as legal advisor.
About Hoffmaster Group, Inc.
Founded in 1947, Hoffmaster Group, Inc., is a leading manufacturer and supplier of disposable tableware including paper plates, cups, napkins, decor, and more. With innovation as the cornerstone of its success, Hoffmaster continues to be a trendsetter, setting the standard for color, fashion, and design excellence in both its Food Service and Consumer divisions. Hoffmaster Group, Inc., is headquartered in Oshkosh, Wisconsin. For more information, visit http://www.hoffmaster.com.
About Metalmark Capital
Metalmark Capital is a leading private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders and executives. The Firm focuses its investment activity in growth industrials, energy, agribusiness and healthcare. Metalmark Capital manages funds with $3.7 billion in aggregate capital commitments. For more information, please visit www.metalmarkcapital.com.
For Hoffmaster Group:
Dave Vierthaler, 920-235-9330
For Metalmark Capital:
Chuck Dohrenwend or Emily Ward
Source: Metalmark Capital
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