GenNx360 Capital Partners Announces Sale of its Portfolio Company, Midwest Can Company and Container Specialties, Inc.
14 March 2020
NEW YORK, March 3, 2020 /PRNewswire/ -- GenNx360 Capital Partners ("GenNx360"), a New York-based private equity firm, today announced the successful sale of its portfolio company, Midwest Can and Container Specialties, Inc. ("Midwest Can" or "the Company").
GenNx360 acquired Midwest Can in January 2017 as part of its packaging sector investment strategy. Over the past three years, through commercial strategy enhancements, new product initiatives and operational improvements, Midwest Can achieved attractive growth and solidified its position as a market leading manufacturer of portable fuel containers.
Monty Yort, the GenNx360 Managing Partner who led the transaction said, "We're very proud of what we've accomplished with management. Our investment in Midwest Can and the achievements attained exemplifies GenNx360's sourcing and operational differentiators."
Piper Sandler served as the exclusive financial advisor to Midwest Can on this transaction. Winston & Strawn LLP acted as legal counsel to Midwest Can and GenNx360.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth, and generate strong financial returns. Target industries include industrial machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City. www.gennx360.com
About Midwest Can
Midwest Can designs and manufactures portable fuel containers and fluid management accessories for a diverse customer base consisting of farm & fleet, lawn & garden, automotive aftermarket, hardware, and gas & convenience retailers. Additionally, its Container Specialties division manufactures custom blow molded plastic containers, specializing in food safe bottles, for industries including food, automotive, chemical, and agriculture. Founded in 1951, Midwest Can operates from a ~200,000 sq. ft. facility in Franklin Park, Illinois, and has more than 100 employees. www.midwestcan.com
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Director of Investor Relations
Tel: +1 212.257.6772
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SOURCE GenNx360 Capital Partners