Monomoy Acquires Oliver’s Food Packaging and Equipment Business
Summary
The acquisition extends Monomoy’s track record of executing corporate carve-outs, building on the firm’s recent carve-outs of Waupaca Foundry from Proterial, Ltd. and Valtir (formerly Trinity Highway Products) from Trinity Industries, Inc. Oliver will continue to operate under its current management team, led by CEO Mitch Summerfield. Founded in 1890 and headquartered in Walker, Michigan, Oliver is a leading manufacturer of food packaging systems and bakery equipment. “ Oliver is a clear market leader with a unique customer value proposition and tremendous growth potential. “ Together with the management team, we have already identified significant product, customer and end-market expansion opportunities upon which we plan to execute through organic growth initiatives and strategic add-on acquisitions.” Kirkland and Ellis LLP provided legal counsel to Monomoy. Monomoy invests in the equity and debt of middle-market businesses that can benefit from operational and financial improvement with a focus on manufacturing, distribution and services companies across industrial and consumer product sectors in North America.