The Company is a multi-plant, corrugated box manufacturer that has grown into one of the premier sources for packaging and displays in the Midwest. The business provides corrugated products, packaging supplies, graphics and displays, order fulfillment and logistics solutions to their customers.

Ownership was pursuing acquisition opportunities to expand its product offerings and its geographic market coverage.  Fort Dearborn advised ownership on two acquisition opportunities.

The Company operates multiple plants and was looking to expand through acquisition. Fort Dearborn Partners was engaged, on two occasions, to provide buy-side support and due diligence for potential acquisitions.

In one acquisition opportunity, Fort Dearborn provided an assessment that highlighted poor operating performance and antiquated equipment and advised management to not extend an offer.  Subsequently, the acquisition candidate was sold through a bankruptcy proceeding and eventually went out of business.

For the other acquisition opportunity, Fort Dearborn advised management not to proceed as the target company did not strategically fit the client's business and the target’s owners controlled the key customer accounts. Our assessment was that these sales relationships were not easily transferable and too risky to pay cash up front.

FDP also provided valuation and deal structure assistance in conjunction with the two assignments, but ultimately advised ownership to pass on those desired acquisition targets.

Fort Dearborn conducted financial and operational  due diligence and, based on its knowledge and experience within the Company’s industry, advised management to not further pursue these acquisition opportunities.