Shields Bag and Printing (Shields) was recently acquired by Novolex™, a portfolio company of The Carlyle Group. Moss Adams (via its affiliate Moss Adams Capital LLC) acted as the exclusive financial advisor.
Headquartered in Yakima, WA, Shields is a leading North American producer of flexible packaging with substantial capabilities in the areas of blown film extrusion, printing, bag making, and other converting processes. Shields’ core focus is providing custom-engineered, flexible packaging products to a diverse group of customers across a range of end-market segments, including construction, food and consumer, banking, and more.
Lisa Shields, CEO of the company, commented, "Moss Adams led a robust process for our shareholders, providing second-to-none industry knowledge coupled with an experienced team that worked together seamlessly.”
Andrew Suen, a director with the Moss Adams investment banking group, stated, "Moss Adams was honored to represent the shareholders of the company. We were thrilled to pair Shields with a strong partner and steward in Novolex™. The company’s exceptional senior management team and market presence, along with a strong strategic fit, has positioned the company for many growth opportunities as part of Novolex™.”
About Shields Bag and Printing Company
Shields Bag and Printing Company is a fourth generation, privately held business that was founded in 1935 in Yakima, WA. Today, Shields ranks among the leading North American producers of flexible packaging with over 500 employees and substantial capabilities in the areas of blown film extrusion, printing, bag making, and other converting processes. Shields’ core focus is providing custom-engineered products to a diverse group of customers across a range of end-market segments, including building and construction, food and consumer, banking and security, lawn and garden, chemicals and energy, and general industrial. For more information, visit www.shieldsbag.com.
Novolex™ is one of North America’s leaders in packaging choice and sustainability serving retail, grocery, food service, hospitality, institutional, and industrial markets. With the pending addition of Shields, the company will have approximately 7,300 employees and 46 manufacturing plants: 41 in the United States (including two world class plastic recycling facilities), three in Canada, and one each in Mexico and The Netherlands. Headquartered in Hartsville, SC, the company’s brands include Hilex Poly, Novolex™ Custom Film & Bag, Duro Bag, Bagcraft, De Luxe, General Packaging, International Converter, Heritage Bag, and Burrows Packaging. For more on Novolex™ and its sustainability leadership, visit www.Novolex.com.
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For more information regarding this deal, please contact:
Rich Anderson, Managing Director | (949) 221-4006
Andrew Suen, Director | (949) 517-9428
Bradley Erhart, Associate | (949) 517-9452