ShoreView Announces Sale of World Wide Packaging, LLC
ShoreView is pleased to announce the sale of World Wide Packaging, LLC (“WWP”) to Bain Capital Private Equity. ShoreView partnered with WWP through a recapitalization in September 2008.
Prior to ShoreView’s investment, WWP was a traditional “family business”. The owners of WWP were seeking to both partially diversify their personal net worth and find a partner to help them achieve the next phase of the company’s growth. ShoreView structured a transaction that:
- Provided liquidity to the owners while enabling them to maintain a significant ownership position
- Provided ample financial resources to support management’s growth plan
- Created an ownership incentive plan for key managers
“Working closely with World Wide Packaging’s talented management team has been a great experience,” said Tom D’Ovidio, a partner at ShoreView. “During our ownership, we worked closely with management to support their vision for growth and provided capital and resources to capitalize on market opportunities. As a result, WWP achieved significant growth, with sales more than doubling and earnings more than tripling.”
“ShoreView has been a great partner to WWP and over the past ten years has helped us achieve meaningful strategic objectives,” said Barry Freda, CEO of WWP. “Our accomplishments include building a greenfield manufacturing facility in China, strengthening our management team, reorganizing and developing our sales and customer service organization, and diversifying our supply chain. We are incredibly excited about what the future holds for WWP.”
About World Wide Packaging
World Wide Packaging is a provider of packaging to the health and beauty industry. WWP, recognized for excellence in design and engineering, collaborates with leading multinational and specialty brands to develop packages that are most commonly used in skin care and color cosmetics. The company’s product lines include compact cases, pots, jars, bottles, and flexible tubes.
About ShoreView Industries
ShoreView Industries, based in Minneapolis, MN, manages $900 million in private equity funds. ShoreView invests in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization, and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million.