Redi-Bag is a leading manufacturer of blown polyethylene film and protective packaging
The acquisition will facilitate Redi-Bag’s continued growth and geographic expansion
The sale executed by Mesirow highlights the firm’s expertise within the flexible packaging sector
CHICAGO, June 10, 2021 – Mesirow acted as exclusive financial advisor to Redi-Bag Inc. (“Redi-Bag” or the “Company”), a portfolio company of Traverse Pointe Partners, on its sale to Soteria Flexibles Holdings (“Soteria Flexibles”), a portfolio company of Ardian, a global private equity firm, and premier manufacturer of flexible packaging.
Redi-Bag is a leading manufacturer of blown polyethylene film and protective packaging primarily serving the food packaging market in the Pacific Northwest. Headquartered in Tukwila, WA, the Company leverages its state-of-the-art manufacturing infrastructure to produce a diverse portfolio of Safe Quality Food certified products. The acquisition of Redi-Bag will bolster Soteria Flexibles’ manufacturing capabilities, broaden its product portfolio while facilitating the Company’s geographical and operational growth.
“Mesirow provided exceptional guidance throughout the process,” said Michael Simon, Managing Partner at Traverse Pointe Partners. “The team’s intricate knowledge of the flexible packaging industry and deep-rooted relationships were critical to finding the ideal partner for Redi-Bag.”
Louis Mitchell, Managing Director of Mesirow Investment Banking, commented, “We were pleased to have worked alongside Redi-Bag and Traverse Pointe Partners to design and execute a successful process. We believe Soteria Flexibles is a strong strategic partner to invest in the Company’s continued growth.”
The sale of Redi-Bag 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 more than 150 transactions over the past 20 years, including more than 45 transactions in the flexible packaging sector. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep long-standing relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of 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.
Founded in 1992, Redi-Bag manufacturer specializing in polyethylene film extrusion and bag converting serving the distribution, food processing and general industrial markets, primarily in the Pacific Northwest with a focus on seafood and produce packaging. Redi-Bag products include shrink bundling film, box liners, bin & drum liners, wicketed bags, perf-roll bags, pallet covers, sheeting and poly tubing, as well as other custom flexible packaging.