DALLAS, May 23, 2022--(BUSINESS WIRE)--Inovar Packaging Group ("Inovar" or the "Company"), a full-service provider of pressure sensitive labels, shrink sleeves and flexibles for a wide range of industries, announced today that funds managed by Kelso & Company ("Kelso") have acquired a majority interest in the Company. Inovar was previously a portfolio company of AEA Investors. The Company’s existing management team, led by Executive Chairman and CEO Jeff Brezek, will continue to lead the company, and remain significant owners of the company alongside Kelso.
"Kelso is the perfect partner to support Inovar’s next stage of growth," said Jeff Brezek, Inovar’s Executive Chairman and CEO. "We are fully aligned on the near and long-term vision for Inovar, which will provide increased value for our customers and more opportunities for our people, while strengthening our position as the partner of choice for other label and packaging companies seeking to join a premier, nationwide platform," added Brezek.
"At Kelso, we look for opportunities to partner with market-leading companies that are managed by best-in-class management teams. Inovar represents the preeminent pressure sensitive label and packaging solution provider in the U.S., and we are excited to partner with Jeff Brezek and the broader Inovar team to help accelerate the Company’s next phase of growth," said Sandy Osborne, Managing Director at Kelso.
"The Inovar team has built a truly differentiated business, and we are eager to support its growth, both organically and through acquisitions, as it continues to augment its product offering, expand its geographic presence, and serve the critical needs of its customers," added Alec Hufnagel, Managing Director at Kelso.
Headquartered in Dallas, TX, Inovar is one of North America’s premier label printing and packaging solution companies. With seven nationwide locations working closely together, Inovar offers a broad range of products, services, and technologies with a central focus on providing unparalleled quality, customer service, and flexibility to consistently meet our customer evolving needs. For more information, visit www.inovarpackaging.com.
Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested approximately $17 billion of equity capital in 136 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (ESOP) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured and stable investing team, and a reputation as a preferred partner to management teams and corporate partners. Kelso has significant experience investing in and supporting high-growth packaging platforms. The firm is based in New York, NY. For more information, please visit www.kelso.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220523005804/en/