Press Release

Mesirow Advises Covertech on its Sale to Balcan

  • Covertech is a leading provider of custom film, insulation and flexible packaging products

  • Partnership with Balcan will invest in Covertech’s growth

  • Sale executed by Mesirow, one of the most active advisors in the paper, plastics and packaging sectors

CHICAGO, February 1, 2021 – Mesirow acted as the exclusive financial advisor to Covertech Fabricating, Inc. (“Covertech” or the “Company”) on its sale to Balcan.

Founded in 1990 and based in Toronto, Canada, Covertech is a leading full-service provider of top-quality, high performance insulation, film and flexible packaging products used in a variety of end market applications. Equipped with a robust portfolio of premium products and manufacturing capabilities, the Company provides premier service for its long-standing and expansive customer base. Balcan is a leading Canadian integrated manufacturer of custom film and flexible packaging solutions with broad technical and production capabilities. The acquisition of Covertech will enhance Balcan’s existing portfolio of products, leveraging the Company’s state-of-the-art operating platform to deliver best-in-class quality across North America.

Furio Orologio, president of Covertech, commented on the transaction, “Mesirow’s flexible packaging industry experience and expert counsel were essential in finding this partnership with Balcan. The team quickly navigated the unique circumstances caused by COVID-19 to successfully execute the ideal outcome for the Company. We believe the sale will enable Covertech’s continued growth and dedication to high quality solutions and services to its customers.”

“We appreciated the opportunity to work alongside Covertech to execute this exciting transaction,” said Louis Mitchell, managing director of Mesirow Investment Banking. “Covertech has developed a strong reputation within the film, insulation and flexible packaging industries for its portfolio of unique and innovative products and solutions, and Balcan is the ideal strategic partner to invest in the Company’s growth.”

The sale of Covertech to Balcan represents another successful assignment completed by Mesirow Investment Banking and highlights the firm’s expertise within the paper, plastics and packaging sectors. With deep long-standing relationships and a client-centric approach, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of clients.

About Mesirow
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. To learn more, visit mesirow.com and follow us on LinkedIn.

Mesirow was also recently named one of the Best Places to Work in Chicago by the Chicago Tribune and one of the Top Places to Work by Crain’s Chicago Business.

About Covertech Fabricating, Inc.
Founded in 1990, Covertech is a full-service Canadian provider of top-quality, high-performance insulation, film and flexible packaging products used in a variety of end market applications.  The company’s diverse manufacturing capabilities, including film extrusion, narrow and wide web flexo-printing, laminating and bag manufacturing which allow the Company to provide custom packaging, film and insulation solutions that meet the most demanding product requirements.

Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow Financial investment vehicle(s). Mesirow Financial, Inc. is not affiliated with Covertech Fabricating, Inc., Balcan or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.

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