The following is a brief description of all the platforms created by First Atlantic Capital as they were when the firm first acquired them:
Please note that Berry Plastics is accounted as two separate platforms with investments from First Atlantic Funds, AEP I and AEP II.
C-P Flexible Packaging specializes in innovative plastic flexographic print technologies and a full range of lamination capabilities to provide customers in food and consumer end-markets with effective, flexible packaging, pouches, re-sealable packaging, and shrink sleeve solutions. C-P serves blue chip customers on a regional and national basis, and distinguishes itself on the basis of high quality and customer service, fast turnaround times, and continuous innovation of new and improved packaging designs. C-P has completed one add-on acquisition since becoming part of the First Atlantic portfolio in 2012.
Resource Label Group, LLC is a full-service pressure sensitive label manufacturing company providing custom label design, label converting and label application equipment for numerous industries. Resource Label Group focuses on the food, beverage, personal care, health, chemical, automotive and household / consumer product markets and maintains strong relationships with a wide range of customers throughout North America. The company specializes in producing high-quality prime labels with its broad capabilities in UV flexographic, digital, rotary screen, embellishment, and RFID printing technologies. Resource Label Group also supplies extended content labels and booklets, which are complex multi-layer structures used when products require extensive handling and safety instructions. Resource Label has completed ten add-on acquisitions since becoming part of the First Atlantic portfolio in 2011.
Sprint Industrial Holdings, LLC is a provider of specialized industrial rental equipment and services to blue-chip customers in the petrochemical, chemical and downstream energy industries. The company’s product lines include temporary liquid and solid storage tanks for maintenance projects, as well as safety products such as gas detection and breathing air systems to protect workers and employees during maintenance jobs. Sprint is headquartered in Houston, Texas, with operations in several states throughout the Gulf Coast, Southeast, and Midwest. Sprint has completed three add-on acquisitions since becoming part of the First Atlantic portfolio in 2007.
TestEquity is a value added distributor of electronic measurement solutions and electronic lab and production solutions. In business since 1971, the company is an authorized stocking distributor for Keysight Technologies (formerly Agilent Technologies’ Electronic Measurement Group), Tektronix, and many other leading manufacturers. In addition to offering new equipment for sale, rental, or lease, TestEquity provides selected pre-owned equipment that is fully restored, tested and calibrated, and backed with an industry-leading one-year warranty. In 2014, the company extended its reach into the adjacent businesses of electronic lab and production solutions, adding a full range of products to TestEquity's line-up, including solder stations and solder, hand tools, work benches, task lighting, microscopes, shelving, ESD control products, chemicals, and cleaning supplies. TestEquity’s own line of environmental chambers and ovens, made in the U.S.A., completes the company’s offerings and offers the best performance and warranty in its class. With resources that include a highly trained team of product specialists and a calibration laboratory accredited to ISO and ANSI standards, TestEquity maintains its headquarters and manufacturing facilities in Moorpark, California, with sales offices throughout the United States, Canada, and Mexico. TestEquity has completed two add-on acquisitions since becoming part of the First Atlantic portfolio in 2012.
Allied Office Supplies was the fifth largest independent supplier of a broad range of office products and business services to approximately 22,500 corporate customers, which were primarily middle-market companies (25 to 500 employees) based in the northeastern U.S. and, in particular, in the greater NYC metro area. The company provided a broad range of products and services including office supplies, computer supplies and mid-market office furniture. The company made five acquisitions during First Atlantic’s ownership.
Berry Plastics was a niche manufacturer and marketer of plastic injection molded packaging products. The company operated a wide range of injection molding presses and decorative printing equipment, which were used to manufacture aerosol overcaps and containers, where the company had a strong market position. Subsequent to First Atlantic’s acquisition, the Company made 15 add-on acquisitions and became a solid player in its original end-markets as well as in new markets, such as drink cups, housewares, closures, and custom molded products.
BHM Technologies was a designer and producer of highly engineered, complex welded assemblies, tube forming and exhaust system components. The company served a diverse customer base in various end markets such as light vehicles, construction and agricultural equipment, and lawn and garden equipment.
Captive Plastics was a manufacturer of plastic packaging for the personal care, healthcare, food, and spirits markets. Captive Plastics provided customers with "one-stop shopping" through its capability to produce plastic bottles as well as closures nationwide. In addition to blow molding and injection molding, Captive Plastics offered in-house services such as design, engineering, tooling, decorating, and assembly of products. The company made three acquisitions during First Atlantic’s ownership.
Custom Food Products was acquired in 1993 through the purchase and combination of Best Western Foods and Center of the Plate Foods. The company formulated, processed, and marketed value-added cooked and pre-cooked meat products, including a range of beef, chicken, pork, poultry, and turkey products. Custom Foods sold its products to consumer product companies, packaged food manufacturers, chain restaurants, and national foodservice chains. The company made one acquisition during First Atlantic’s ownership.
Country Pure Foods was created through the simultaneous acquisitions of two complementary regional juice-processing companies: Natural Country Farms and Ohio Pure Foods. The Company was a producer of non-branded fruit juices and fruit drinks for distribution to the institutional food service and private label retail markets. The company made four acquisitions during First Atlantic’s ownership.
Fort Wayne Industries was a manufacturer and marketer of products in three related businesses: (i) plastic in-ground packaged swimming pools and related products; (ii) large custom structural injection molded plastic products for consumer and industrial applications; and (iii) pre-fabricated spas.
Golfsmith was the world’s largest retail superstore and direct marketer of golf products and accessories. The company also manufactured and marketed equipment. The company made two add-on acquisitions during First Altantic’s ownership
Industrial Coatings Group was a niche manufacturer of specialty coated, extruded and laminated materials and substrates sold into a variety of industrial and commercial markets. The company also manufactured an expanding line of printable synthetic materials for use in the graphics arts and sign and banner industry. The company made one acquisition during First Atlantic’s ownership.
Otis Spunkmeyer was a branded, high-quality manufacturer and distributor of cookies, muffins, and other sweet baked goods to the foodservice and retail markets, with an extensive frozen direct-store-delivery (“DSD”) network. Otis Spunkmeyer also provides frozen cookie dough to the foodservice channel, and is a manufacturer of branded muffins to the retail channel.
Patriot Sensors was a designer and manufacturer of position sensing and liquid level sensing applications. The company's products were used within the fabrication and assembly, high-speed assembly and web processing, material handling automation, and mill and heavy industry automation sectors.
Peek designed, manufactured, and distributed equipment and software offering advanced and innovative solutions to traffic management and control needs worldwide. At the time of the acquisition, Peek sold its products in over 60 countries through 32 facilities. The company had three separate divisions: Northern Europe, United Kingdom, and United States.
Precision Parts International was a manufacturer of high precision, high strength metal parts and sub-assemblies for automotive, industrial, aviation, and mining applications. It also has a presence in the highly profitable, precision gearing business. The company made two acquisitions during First Atlantic’s ownership.
Ranpak Corporation was the leading provider of paper “in-the-box” packaging systems used to protect items for shipment. The company provided end-users with its proprietary, patented machines and sold them the multi-ply paper rolls used by the machines to create paper-cushioning and void-fill material used inside shipping boxes.
Prestolite Electric was a global manufacturer of alternators and starter motors selling into high-margin, niche markets for heavy-duty (truck, bus, emergency, off-road), military and industrial applications. Prestolite developed a strong presence in the rapidly expanding alternator and starter market in China.
Tru-Circle Corporation was a manufacturer of machined and sheet metal parts and assemblies serving the aerospace industry. The company made two add-on acquisitions during First Altantic’s ownership.
WG Global was a global player in the surface preparation industry. Its machinery and parts were used in a variety of surface preparation applications primarily for manufactured goods in a wide range of industries, including automotive, aerospace, and shipbuilding and repair.
November 1990 / June 1996
AEP I / AEP II
Plastics & Packaging
First Atlantic in conjunction with Berry’s management significantly improved the company’s business strategy and practices and completed strategic add-on acquisitions that created the leading company in the plastics packaging business. The build-up resulted in more than 22% compounded annual EBITDA growth (more than 13x the original EBITDA at acquisition) over 15 years with First Atlantic’s ownership rolled from AEP I to AEP II. Core elements included: