Resource Label Group expands its North American footprint through acquisition of Toronto-based Ingenious Packaging.
Resource Label Group, a full-service provider of pressure sensitive label, shrink sleeve and RFID/NFC technology for the packaging industry, today announced that it has acquired Ingenious Packaging, a leader in the field of innovative labelling solutions. Terms of the transaction were not disclosed.
Resource Label is a long-standing portfolio company of First Atlantic Capital, a private investment firm, and TPG Growth, the middle market and growth equity investment platform of TPG, which joined the Resource Label sponsorship group as a significant investor in May 2018.
Located in Toronto, Canada, Ingenious Packaging has customers across the food, beverage, health and beauty, spirits, nutraceutical, distribution, tobacco and pharmaceutical industries. Ingenious is fully equipped with flexographic, digital and offset printing capabilities and the ancillary finishing assets to offer a full breadth of pressure sensitive, cut and stack and in-mold labels as well as shrink sleeves and banding products.
"I am honored to welcome the talented team at Ingenious to our growing family," said Bob Simko, president and CEO of Resource Label. "Resource Label, with the backing of First Atlantic and TPG Growth, will provide the support to meet both the current and future growth needs of Ingenious' customers throughout North America, with special focus on our foundation of Canadian customers. As an initial sign of the commitment to Ingenious' employees, customers and capital expansion strategy, I am pleased to announce that we have placed an order today for a new 17in-wide Mark Andy P7 flexographic press for the facility."
Roberto Buaron, chairman and CEO of First Atlantic Capital, said: "We are pleased to continue to pursue the growth of the Resource Label platform, which includes eleven acquisitions since our initial investment in 2011." Emilio Pedroni, managing director at First Atlantic Capital, added: "Ingenious has a distinguished customer base and great employees, and is a valued addition to Resource Label." And Ransom Langford, partner at TPG Growth, stated that, "We're pleased with the Ingenious acquisition, the first after our investment in Resource Label, and we look forward to helping Ingenious support its customers and grow its business."
Louis Mitchell, managing director at Mesirow Financial, which served as lead financial advisor to Ingenious, said: "Resource Label is led by an experienced management team, owned by two investment firms with significant experience in the packaging sector – First Atlantic and TPG Growth – and will be an excellent partner for Ingenious moving forward."