General Converting is a manufacturer and converter of premium folding cartons for recognized brands in the food, confectionary and consumer markets, among others
The transaction, executed by Mesirow, represents the firm’s third folding carton transaction in 2023, and exemplifies the firm’s expertise in the specialty packaging space, as well the firm’s deep financial sponsor relationships
CHICAGO, November 13, 2023 – Mesirow, an independent, employee-owned financial services firm, today announced it acted as the exclusive financial advisor to General Converting (the “Company”) on its sale to CORE Industrial Partners (“CORE”).
Founded over 40 years ago, General Converting is a manufacturer and converter of premium folding cartons for discerning brands in the food, confectionary, and consumer markets, among others. The Company is located in a state-of-the-art 122,000sf facility in Bolingbrook, IL, and offers converting capabilities to improve the brand recognition and shelf appeal of its customers’ products.
Bob Ruebenson, CEO of General Converting, said, “From the beginning, we were continually validated in our decision to select Mesirow as our trusted advisor for this process. The firm’s deep industry relationships, sector expertise and steadfast advisory resulted in a fantastic outcome for all General Converting’s stakeholders. We are thrilled to partner with CORE for the Company’s next phase of growth.”
“We were honored to represent General Converting in its sale to CORE Industrial Partners.” Said Rick Weil, Managing Director of Mesirow Investment Banking. “The General Converting team has built a well-deserved reputation for excellence in the folding carton sector and is primed for some exciting growth.”
Melanie Yermack, Managing Director of Mesirow Investment Banking, added: “General Converting’s commitment to customer service and quality has resulted in impressive expansion in the market. We look forward to the Company’s continued growth following this successful transaction.”
The sale of General Converting represents another successful assignment completed by Mesirow Investment Banking. Mesirow is one of the most active advisors in the paper, plastics, and packaging sectors, having completed over 190 transactions in recent 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.
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 recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top Workplaces by the Chicago Tribune.
About General Converting
General Converting, founded in 1982, is an independent folding carton platform recognized for its quality, exceptional service, extensive technical expertise and robust in-house capabilities. The Company works with recognized brands across the confectionary, food, consumer, automotive, and industrial markets, among others, to produce award-winning and tailored packaging solutions that maximize shelf-appeal and brand recognition. General Converting’s end-to-end capabilities, including structural design, sheeting, printing, die-cutting, and finishing, ensure quality control over every stage of the process and result in high-quality, premium folding carton solutions. For more information, visit generalconverting.com.