Fort Dearborn Advisors announces the successful sale of select assets of Triumph Packaging Group ("Triumph").  Triumph was a leading designer and manufacturer of folding cartons, located in the Chicagoland area.  Triumph's customers included many national leading food and consumer goods producers.  Triumph was known for its high quality standards, well established customer relationships and diverse and flexible manufacturing.

The owner of Triumph faced multiple challenges, including the loss of a major customer, inaccurate financial reporting, and declining liquidity.  Fort Dearborn was originally engaged to provide an assessment of the operations and to assist the management team with the liquidity challenges.  Through this initial assessment, Fort Dearborn and the owner quickly determined the best course of action was to sell the business on an expedited basis.  Fort Dearborn worked with the management team to create a transaction strategy that called for a robust sale process while managing the operations through the liquidity crunch.  Fort Dearborn quickly developed marketing materials and a targeted list of potential counterparties.

Fort Dearborn's marketing efforts yielded 10 indication of interest letters.  After plant visits, initial diligence and detailed discussions, four potential acquirers provided letters of intent.  Fort Dearborn's advice assisted the owner in selecting the best potential acquirer based on business conditions.  Triumph agreed to sell select operating assets to Graphic Packaging International, a NYSE listed global provider of packaging solutions.  Fort Dearborn then worked with Triumph management and the acquirer through a Transition Services Agreement to ensure a successful conclusion to the transaction.  In addition to running the entire sale process, Fort Dearborn assisted the management team in navigating a difficult liquidity position while negotiating the competing needs of three senior lenders.  By reaching a successful close, the proceeds from the transaction exceeded the expectations of the secured creditors, who were concerned about the potential for a forced liquidation.

"The Fort Dearborn team was instrumental in driving the process to a successful completion, and provided guidance and advice throughout the transaction to maximize the sales price.  The depth of experience, quality relationships and senior level attention made Fort Dearborn a valued partner."-Randy Cecola, President, Triumph Packaging Group

While the details of each engagement vary, this transaction was typical of our investment banking focus of representing privately-held, middle market companies with valuations in excess of $10 million.  Please keep us in mind for proven middle market investment banking expertise, especially in "story" transactions where our operating skills and consulting excellence lend additional value.  We look forward to working with you.