Brent Earnshaw, Dunn's CEO, commented, "Wingate has been a great partner. They have brought a wealth of experience and a low-ego, highly approachable style that has made them a pleasure to partner with. The Dunn team looks forward to continuing our growth with our new partners at Arbor."
Brian Steinbrueck, Partner at Wingate, added, "Dunn represents the ideal type of investment for Wingate. Prior to our investment, Dunn had been a relatively fragile business in a difficult industry. However, Dunn has consistently provided a highly valuable service to its customers and the Dunn team has done a terrific job of executing on opportunities to make the business more differentiated and successful."
In connection with the transaction, a Houlihan Lokey team led by Bill Peluchiwski and Matt Bowersox provided financial advice to Wingate and Dunn. Haynes and Boone provided legal advice.
About Dunn Paper
Dunn Paper is a leading supplier of high-performance, advanced paper materials for a range of lightweight technical food packaging and consumer markets. The company produces a wide array of specialty waxed, coated, and uncoated MG papers used in various foodservice and flexible packaging markets as well as high absorbency, porous and lightweight tissue products for niche consumer applications. The company has six mills located throughout the eastern US and Canada.
About Wingate Partners
Wingate Partners (www.wingatepartners.com) was founded in 1987 to purchase controlling equity interests in companies where there is the opportunity to create value through superior operational and strategic execution. Typically, Wingate's investments fall into two primary categories: profitable companies in changing or out of favor industries and under-performing companies. In both cases, equity value is created by improving the operating performance of the business and by developing long-term strategies to exploit changing industry dynamics. Our professionals bring substantial senior-level operating and strategic experience in addition to extensive careers in acquiring companies.
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SOURCE Wingate Partners