NEW YORK, Aug. 3, 2015 /PRNewswire/ -- Behrman Capital ("Behrman"), a private equity investment firm based in New York and San Francisco, today announced that it has sold Selig Sealing Holdings ("Selig") to CC Industries, Inc. ("CCI"). The financial terms of the transaction were not disclosed.
Headquartered in Naperville, Illinois, Selig is the largest global manufacturer of tamper-evident, induction cap and closure liners. The liners are used in a broad range of end markets including beverage, food, pharmaceutical, agricultural and personal care. The company's liners protect against product contamination and spoilage, provide tamper evidence, and also improve shelf life and branding. Selig has manufacturing operations in the United States, Canada, Switzerland and the United Kingdom, and ships its products globally.
Grant G. Behrman, Managing Partner of Behrman Capital, said, "We are very proud of our successful investment in Selig. Since acquiring the company in 2005, we have worked closely with the management team to consistently grow the top and bottom lines. Together with Steve Cassidy and his team, we built value through the strategic acquisitions of Unipac and ISCO, the construction of a greenfield facility in the U.K. and a range of other operational initiatives. The business is well-positioned for continued growth with CC Industries, and we wish Steve and his team every success in the future."
The Selig management team, under the leadership of CEO Steve Cassidy, will continue to lead the business under CCI's ownership.
Mr. Cassidy said, "Selig has accomplished a great deal over the past decade, and we are grateful to Behrman Capital for its unwavering support as we have established strong leadership positions in the markets we serve. Looking ahead, we are excited about our new partnership with CC Industries, which has a track record of supporting management teams and their long-term growth strategies. Under CCI's ownership, we will continue to be a world-class supplier for our customers and capitalize on opportunities to add value to their businesses."
Lazard Middle Market acted as financial advisor to Selig during the transaction, and William Blair advised Selig's board of directors. Goodwin Procter LLP acted as legal advisor to Selig.
About Behrman Capital
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company's investments are focused in three industries: defense and aerospace, health care services, and specialty manufacturing and distribution. The firm has raised five funds with a combined capital base in excess of $3.0 billion. For more information, please visit www.behrmancap.com.
SOURCE Behrman Capital