Silver Spur is a leading supplier of high-quality glass and plastic bottles, jars, caps and closures
The acquisition will accelerate Silver Spur’s continued growth and expansion
The sale executed by Mesirow highlights the firm’s expertise within the packaging and distribution sectors
CHICAGO, May 18, 2021 – Mesirow acted as exclusive financial advisor to Silver Spur Corporation (“Silver Spur” or the “Company”), a portfolio company of Meridian General, on its sale to funds managed by Kelso & Company (“Kelso”), a 40+ year old private equity investment firm. Silver Spur will be combined with Kelso’s existing investments in C.L. Smith and Inmark, distributors of rigid container and life sciences packaging products.
Headquartered in Cerritos, CA, Silver Spur is a premier supplier of high-quality glass and plastic bottles, jars, caps and closures used across a diverse range of end markets. The Company’s commitment to service, competitive solutions and ability to quickly source and supply high-quality products from a global base of manufacturers has differentiated the Company in the marketplace. The combination of Silver Spur with C.L. Smith and Inmark will help to broaden the combined entity’s portfolio of product offerings while accelerating the Company’s operational and financial growth initiatives.
Ravi Rao, Founder and Chairman of Meridian General, said, “Mesirow was instrumental in identifying a strong strategic partner for Silver Spur. Their depth and knowledge of the packaging industry resulted in an effective and successful transaction process. We look forward to the Company’s continued growth alongside C.L. Smith and Inmark.”
“We greatly appreciated the opportunity to work with Silver Spur throughout this process,” commented Rick Weil, Managing Director of Mesirow Investment Banking. “The Company is well-positioned for both organic and inorganic future growth – we believe Kelso is the ideal partner to advance these opportunities for expansion.”
Chris Yike, Vice President of Mesirow Investment Banking, added, “Silver Spur’s strong reputation for service and unique market position enabled us to facilitate this optimal partnership. The combination of Silver Spur with C.L. Smith and Inmark will strengthen the Company’s customer-focused value proposition and growth potential.”
The sale of Silver Spur 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. 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.
About Silver Spur
Silver Spur Corporation was founded and incorporated in California, USA in 1978. The Company supplies glass bottles and containers, HDPE (High Density Polyethylene) packers, PET (polyethylene terephthalate) packers, and both child resistant and regular fine rib closures and droppers. With access to more than 45 furnaces, Silver Spur is equipped to address most markets and industries. With the ability to produce various colors, shapes, and sizes, the company can produce very high volumes to meet almost any size of order, all year round. Learn more at silverspurcorp.com.