Press release
/
Investment Banking

Mesirow Advises General Converting on its Sale to CORE Industrial Partners

  • 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
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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.

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 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. 

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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 General Converting, CORE Industrial Partners 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. © 2023. 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. 2022 Barron's Top RIAs (Received September 2022 for the year 2021 | Licensing fees paid post award for use of the ranking). In order to be considered for the Barron's 2022 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. 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.