Genstar's Fort Dearborn Company Acquires Renaissance Mark
Monday, June 11, 2007
Press release from the issuing company
SAN FRANCISCO, June 8 -- Genstar Capital, LLC, a middle market private equity firm that focuses on investments in selected segments of life science and healthcare services, industrial technology, business services and software, today announced that its portfolio company Fort Dearborn Company has acquired substantially all of the assets of Renaissance Mark. The acquisition combines the two leading suppliers of "cut & stack" labels and expands Fort Dearborn's scale and presence. With this combination, Fort Dearborn reinforces its leadership as one of the premier label suppliers in North America.
Fort Dearborn's Chief Executive Officer Mike Anderson, said, "Our customers are demanding greater variety, flexibility, geographic presence and sophistication. Fort Dearborn is in an excellent position to meet those demands today and in the future."
Renaissance Mark capabilities include cut & stack labels and specialty finishing options for leading consumer product companies in the food, beverage, personal care and wine & spirits markets. Fort Dearborn supplies cut & stack, pressure sensitive and full body shrink sleeve labels across multiple printing technologies including digital, lithographic, flexographic and rotogravure. Renaissance mark has four operating divisions in North America (Bowling Green, KY; Sparks, NV; Leamington, Ontario; and Montreal, Quebec), employing approximately 660 associates.
"We are very pleased with our investment in Fort Dearborn and we look forward to working with Mike and his management team to further build this platform company," said Richard F. Hoskins, Managing Director of Genstar. "We will continue to pursue acquisitions that will strengthen our operations and provide our global customers with high-quality products and services," he said.
"The gain in scale will better allow Fort Dearborn to offer our customers unmatched value. As the industry continues to consolidate, we will have the opportunity to provide our full suite of label solutions across complementary markets and deliver the "one-stop-shop" option our customers are seeking. Customers will also benefit from seamless migration across various label types and print technologies to best match their requirements," added Anderson.
Upon integration, all ten of Fort Dearborn's manufacturing facilities will operate as one company with unified systems, policies and processes. Fort Dearborn's management team is experienced in executing and integrating add-on acquisitions effectively and fully anticipates the addition of Renaissance Mark to be an important contributor to Fort Dearborn's near-term and ongoing success.