Press Release

Mesirow Advises Gelpac Inc. on its Sale to ProAmpac

Rick Weil (Managing Director), Melanie Yermack (Managing Director) and Chris Yike (Director) served as transaction leads
• Gelpac’s successful sale to ProAmpac highlights Mesirow’s expertise and relationships within the packaging sector

CHICAGO, April 17, 2024 – Mesirow is proud to announce that it served as the exclusive financial advisor to Gelpac Inc. (“Gelpac” or the “Company”), a portfolio company of an investor group consisting of NAMAKOR Holdings (“NAMAKOR”), Caisse de dépôt et placement du Québec (“CDPQ”) and Groupe W Investissements (“W Investments”) (collectively, the “Investor Group”) on its sale to ProAmpac, a global leader in flexible packaging and material science. ProAmpac is jointly owned by Pritzker Private Capital (“PPC”), management and other co-investors.

Headquartered in Marieville, QC, Gelpac is a vertically integrated, innovative manufacturer of flexible packaging solutions. The Company has earned a stellar reputation among its customers by consistently providing high quality, innovative products and outstanding customer service. Gelpac serves North American customers across the food and beverage, agriculture, industrial and pharmaceutical markets, among others. Under the ownership of the Investor Group, the Company has become known as a major player in the North American packaging industry. Gelpac has undertaken significant organic growth initiatives and successfully integrated three highly strategic acquisitions since the Investor Group’s initial investment in 2017. Among the three acquisitions, Mesirow represented Standard Bag Manufacturing Co. on its sale to Gelpac in May 2023.

“ProAmpac’s platform and capabilities will provide significant benefit to our customers and key partners as we continue to offer exemplary packaging solutions in the market,” said Alain Robillard, President and CEO of Gelpac. “Mesirow’s deep relationships and steadfast advisory were pivotal in delivering an ideal partner for Gelpac and an exceptional outcome for the Investor Group.”

Stéphane Huot, President and COO of NAMAKOR, added, “We are proud of the accomplishments and growth Gelpac achieved during our ownership and look forward to the company’s continued success in partnership with ProAmpac and PPC in the years to come.” Abhinav Capoor, Principal at NAMAKOR, added, “The Mesirow team provided exceptional guidance throughout the process, and their relationships and deep understanding of the packaging industry were instrumental in identifying an ideal partner for Gelpac.”

Rick Weil, Managing Director of Mesirow Investment Banking, commented, “We are proud of the partnership we have built with the Investor Group and Gelpac over the years as the Company has grown and evolved into a leader in the flexible packaging sector. We believe this strategic combination will enhance both organizations’ abilities to offer best-in-class packaging solutions to their customers.”

The sale of Gelpac represents another successful flexible packaging assignment completed by Mesirow Investment Banking. Mesirow is one of the most active advisors in the packaging sector, having completed over 200 transactions in the last 25 years. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep longstanding relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of its 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, follow us on LinkedIn and subscribe to Spark, our quarterly newsletter.

Mesirow was recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top 100 RIA firms by Barron’s.

About Gelpac Inc.
Gelpac has been a leading supplier of high-performance packaging solutions to the North American agrifood, pharmaceutical, chemical and construction industries for over 60 years. Its multiwall paper bags and various polyethylene packaging products are designed to meet the exact specifications of each client and are manufactured on state-of-the-art production lines by seasoned teams that share a common passion, that of a job well done. For more information, visit

Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow investment vehicle(s). Mesirow Financial, Inc. is not affiliated with Gelpac Inc, ProAmpac or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. The Mesirow name and logo are registered service marks of Mesirow Financial Holdings, Inc. © 2024. All rights reserved. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.

2022 Crain’s Best Places to Work (Received August 2022 reflective of previous 12 months – Licensing fees paid post award for use of the ranking). Best Companies Group (BCG), an independent workplace excellence research firm, conducted a two-part survey. Part one, consisted of an employer questionnaire, used to collect information about benefits, policies, practices, and other general information. Part two was a confidential 77-question employee survey used to evaluate local employee’s workplace experience and culture. Rankings and/or recognition by unaffiliated rating services and/or publications are not indicative of a firm’s future performance nor do they evaluate the quality of services provided to clients or guarantee that he/she will experience a certain level of results if Mesirow is engaged, or continues to be engaged, to provide investment advisory services, nor should they be construed as a current or past endorsement of Mesirow by any of its clients.

2023 Barron’s Top RIAs (Received September 2023 for the year 2022 – Licensing fees paid post award for use of the ranking). In order to be considered for the Barron’s 2023 Top RIA Firms list, applicants were required to complete a 145-question survey, with the firm’s ADV informing the majority of responses. Firms were also required to meet a number of other specified requirements to be eligible for inclusion. Firms were ranked based on various qualitative and quantitative factors, including assets managed, the size and experience of teams, regulatory records of the advisors and firms, technology spending, staff diversity, organic and M&A growth, client segmentation as well as succession planning.


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