Multi Packaging Solutions Announces Acquisition of Steketee-Van Huis and Intent to Acquire Hilltop Press
April 12, 2006
Multi Packaging Solutions, Inc. (“MPS”), a specialty print-based packaging company and a portfolio company of Bear Stearns Merchant Banking (“BSMB”), today announced that it has completed the acquisition of Steketee-Van Huis, Inc. (“SVH”). SVH is headquartered in Holland, MI and provides packaging solutions for the pharmaceutical, multimedia and consumer markets. The acquisition provides SVH with resources that will be used to expand the business and offers MPS complementary technology and capacity to support its growing customer base. Terms of the transaction were not disclosed.
In addition, MPS today announced that it has signed a letter of intent to acquire National Graphics, Inc. d/b/a Hilltop Press. Hilltop Press is headquartered in Indianapolis, IN and provides specialty high-end printed-packaging for the multimedia and consumer markets. Hilltop’s ability to manufacture products across a broad spectrum of materials including paper, paperboard, plastic and metal, broadens MPS’ product offering. The transaction is expected to close within the next 30 days. Terms of the transaction were not disclosed.
Marc Shore, Chief Executive Officer of MPS, commented, “SVH and Hilltop provide significant contributions to MPS’ strategic plan. Both companies have demonstrated a consistent history of growth, technological excellence and great customer service. We look forward to working with these extremely talented management teams.”
Ted Etheridge, President and Chief Executive Officer of SVH stated, “I am excited about partnering with Multi Packaging Solutions as both an operator and an investor. This combination is a strong match for our business and will provide SVH with additional resources that we will use to better serve our customers. We look forward to joining the MPS family as the combination brings new opportunities for our employees and the local community.”
“SVH and Hilltop are tremendous additions to the growing MPS platform,” said Phil Carpenter, Managing Director of BSMB. “Both companies bring outstanding teams and print capabilities and we’re pleased to welcome our new partners to MPS.”