WASHINGTON, DC – HCI Equity Partners (“HCI”) today announced a recapitalization of Manufacturing Solutions International (“MSI”). MSI has joined forces with HCI portfolio company Express Packaging to meaningfully expand its capabilities and presence in contract packaging and contract manufacturing primarily to human food and pet food markets.
Headquartered in Portage, Indiana, MSI serves leading national brands with a wide breadth of contract packaging services, such as pouching/bagging, stand-up pouching, filling, lidding, bundle wrapping, flow wrapping, blister carding, shrink wrapping, inspections, mixing, kitting, display building, and canister sealing, among others. It also provides a range of contract manufacturing services, including dry and liquid blending of ingredients, heat pasteurization, and batching, among others. Finally, it offers warehousing, distribution, and fulfillment services.
MSI founder Charles Weinberg stated, "We are very excited to partner with Express Packaging and HCI, and we look forward to continually expanding our service offering to better serve our customers.” Charles is now CEO of the combined organization, and MSI co-founder Tom Donnelly is CFO. Both now also serve as board members. Express founder Fred Hartzler, who remains active as a sales leader and a board member, noted, “We are thrilled to partner with a company of MSI’s caliber. Our organizations fit very well from a cultural, organizational, and capability standpoint.” Doug McCormick, Managing Partner at HCI, stated, “MSI is highly complementary to Express in a variety of ways—with respect to team, customer base, service capabilities, systems, and processes. It deepens the platform’s ability to be a strategic partner to its customer."
Seeking More Add-ons
Express and MSI are seeking additional companies to add to the platform. Our primary focus with M&A will be adding new packaging and manufacturing capabilities, expanding our customer base, and penetrating new food categories. However, we will also evaluate opportunities to branch further into non-food categories and geographies outside the Midwest.
About HCI Equity Partners
HCI is a private equity firm that invests in middle market, growth-oriented industrial product and service companies. We currently manage $1 billion in equity commitments and closed our latest fund (“HCI V”) at over $400 million in November 2017. With diverse operating experience and an active approach, we strive to be business partners rather than simply capital providers. We build solid partnerships with company owners and management teams to assist with identification and execution of organic and acquisition growth initiatives. We believe our substantial operating experience differentiates us from other financial partners — the majority of our principals have been CEO, President or CFO of an industrial business during their careers. We bring extensive capabilities gained from senior leadership roles at companies such as Caterpillar, Manitowoc, Ford, Vermeer, Progressive Waste Solutions, Cardone Industries, Mistras Group, Merrill Lynch, and Helmerich & Payne. For more information, please visit our website, www.hciequity.com.