Mesirow Advises Gravis, a Portfolio Company of New Water Capital, L.P. on the Acquisition of Procon Pacific

• Rick Weil (Managing Director, Co-Head of Packaging) and Chris Yike (Director) served as transaction leads.
• Mesirow acted as the exclusive financial advisor on this transaction, highlighting the firm's continued success in the packaging sector.

CHICAGO, March 20, 2026 /PRNewswire/ -- Mesirow announced it acted as the exclusive financial advisor to Gravis ("Gravis" or the "Company"), a portfolio company of New Water Capital, L.P. ("New Water Capital") on the acquisition of Procon Pacific.

Gravis is a leading provider of bulk transportation packaging solutions in North America, offering products such as flexible intermediate bulk containers (FIBCs), bulk liners, pallets and other engineered packaging materials. The Company serves a wide range of end markets including food, agriculture, chemicals, pharmaceuticals, and industrial goods.

Vishal Rao, Chief Executive Officer of Gravis, said, "The deep industry expertise and thoughtful guidance provided by Mesirow throughout this process were instrumental in achieving a successful outcome for Gravis. Their partnership and execution helped ensure a smooth transaction and positioned the Company well for continued growth."

"Procon Pacific brings complementary expertise and relationships that enhance Gravis's value proposition. We are excited about the growth opportunities this combination creates for customers and the broader organization," said Matt Carlos, Principal at New Water Capital. "The acquisition of Procon Pacific is a strong strategic fit for Gravis and further advances our vision of building a scaled, market‑leading bulk packaging platform with differentiated capabilities and customer reach," added Nate Douglas, Vice President at New Water Capital.

Rick Weil, Managing Director and Co-Head of Packaging at Mesirow Investment Banking, said, "We were pleased to advise Gravis throughout this transaction. We believe this acquisition strengthens Gravis's capabilities in the bulk transportation packaging market and positions the combined organization to deliver enhanced value, scale, and solutions to customers across its core end markets."

The acquisition of Procon Pacific by Gravis represents another successful packaging transaction completed by Mesirow Investment Banking. Mesirow is one of the most active advisors in the packaging industry, having completed more than 220 transactions in the last 25 years. By leveraging extensive sector-specific expertise across industry groups and nurturing deep, longstanding relationships, Mesirow has amassed a proven track record of 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 Private Capital & Currency, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture.

Mesirow has been named one of the Best Places to Work in Chicago by Crain's Chicago Business multiple times and is one of Barron's Top 100 RIA firms. To learn more, visit mesirow.com, follow us on LinkedIn and subscribe to Spark, our quarterly newsletter.

About Gravis
Gravis North America's largest provider of engineered bulk transportation packaging solutions. Gravis partners with customers to design and supply optimal bulk packaging solutions for the food & beverage, agriculture, chemicals, pharmaceutical and materials industries. Gravis offers a comprehensive portfolio of dry bulk transportation packaging products including Flexible Intermediate Bulk Containers (FIBCs), Bulk Liners, Bulk Container Liners, Industrial Bags, Pallet liners, non-wood pallets and stretch films.

About New Water Capital L.P.
New Water Capital L.P. is a private equity firm focused on lower-middle market companies in the consumer products and industrial manufacturing and services sectors with revenues of $30 million to $300 million. New Water Capital's collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths. For more information, please visit www.newwatercap.com

About Procon Pacific
Procon Pacific is a leading manufacturer of Intermediate Bulk Containers (FIBCs) and industrial packaging, providing high-quality, customized solutions to global industries. Leveraging extensive manufacturing capabilities and a commitment to logistics excellence, Procon Pacific helps clients optimize their supply chains and protect their products during transport.

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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 Gravis, New Water Capital, Procon Pacific or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. | Investment Banking services offered through Mesirow Financial, Inc., Member FINRA and SIPC.

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