MILWAUKEE, Oct. 3, 2017 /PRNewswire/ -- TKO Miller, LLC, a leading middle-market investment bank, today announced that Seville Flexpack Corporation, based in Oak Creek, Wisconsin has been acquired by Südpack Verpackungen GmbH und Co. KG, based in Ochsenhausen, Germany, one of Europe's leading providers of flexible packaging solutions. TKO Miller served as an advisor to Seville Flexpack.
Seville Flexpack is a converter and provider of flexible packaging solutions with more than 40 years' experience in printing and processing. On October 1, 2017, Seville Flexpack will officially become part of the Südpack Group, which will retain all of Seville's employees and continue to serve its customers.
Founded in 1964, Südpack Packaging Group is a family-managed business that operates 35 sales offices and production sites in Germany, France, Poland, and Switzerland. Südpack specializes in lid films, hard/soft films and bags. Films are printed using flexographic, gravure and digital printing processes.
As a result of the transaction, Südpack expects to provide products to its US-based customers more quickly and with more flexibility. This is Südpack's first acquisition in the United States, and the company believes that it will set the groundwork for further expanding its US presence.
"We saw a lot of parties interested in Seville, but Südpack was a buyer that had a very good understanding of Seville's business model, its manufacturing processes, and its customer base," said Joe Froehlich Managing Director of TKO Miller. "Seville offers Südpack a wonderful base from which to grow its US flexible packaging business."
"We had been looking for a suitable candidate for our US business for quite some time, and we are very pleased to have found the right partner in Seville Flexpack in Oak Creek," explains Johannes Remmele, Managing Partner at Südpack. "The site is ideal in a number of ways: the facilities offer modern equipment for flexographic and rotogravure printing, sufficient storage capacity, and most importantly; highly experienced employees. In addition, it is located in the heart of the US meat and cheese industry - two key customer segments for our packaging solutions. Taken together, it is the perfect fit for our corporate group."
This completed transaction adds to TKO Miller's considerable experience in the flexible packaging, printing, and plastics markets.