Business News

Odyssey Investment Partners Acquires Ranpak, Leading Producer of Paper-based Protective Packaging

Tuesday 08. January 2008 - Odyssey Investment Partners LLC announced today that it has acquired Ranpak Inc., a leading global manufacturer and marketer of "in-the-box" paper-based protective packaging, from American Capital Strategies Ltd. (Nasdaq: ACAS). Financial terms of the transaction were not disclosed.

Founded in 1972, Ranpak manufactures two principal types of paper converter machines – cushioning machines and void-fill machines – that are marketed through distributors to end-users who buy paper produced by Ranpak. The Company’s end-users include fulfillment and distribution centers and OEMs in North America, Europe and the Pacific Rim. Ranpak is headquartered in Concord Township, Ohio and has facilities in Reno, Nevada; Heerlen, The Netherlands; and Kansas City, Kansas. Ranpak has more than 300 employees worldwide.

Brian Kwait, a Managing Principal of Odyssey Investment Partners, said: “We are delighted to acquire Ranpak, which has established a leading market position through innovation, product quality and exceptional customer service on a global basis. Demand for Ranpak’s packaging systems is growing steadily and we expect to capitalize on a wide range of attractive growth opportunities. We are excited to be partnering with Ranpak’s experienced and proven management team to further build the value of the business.”

Ranpak’s management team invested alongside Odyssey in the transaction. American Capital and Apollo Investment Corporation provided debt financing in support of the transaction.