Tailored Investment Banking Advisory for Packaging, Plastics, and Paper

Mazzone & Associates (“Mazzone”) is pleased to announce that it acted as exclusive financial advisor to New Era Converting Machinery Inc. (“New Era” or the “Company”), with respect to the sale of New Era to IPCO AB (“IPCO”).

New Era is a web converting equipment design and manufacturing business, with two facilities located in Paterson, New Jersey. With 100+ employees and historical sales in 20+ countries, the Company is a world leading supplier of purpose-built coating, laminating, embossing, casting, calendering, and specialty systems for the web converting and roll-to-roll industry.  The Company provides turnkey services, spares and systems to customers operating in a wide array of end applications including filtration, battery, packaging, adhesive and other market segments.

Packaging M&A finished 2024 with robust deal flow, providing an overall strong year that surpassed the annual volumes in each of the last five years, including the prior peak year of 2021. While volumes were up, pricing (as measured as multiples of EBITDA) held constant. Early returns from the first two months of 2025 indicate a potential reversal of this volume trend; no discernable trend is yet noted in pricing.

We’re excited to share that Managing Director Jonathan White will be a panel moderator at AWA’s Global Release Liner Summit on March 20, 2025. This premier event provides a comprehensive understanding of release liner markets and applications, highlighting growth opportunities for everyone involved. Join Jonathan and other industry leaders as they explore key trends, innovations, and the future of this evolving sector.

Through September, 2024 has delivered on the hoped-for rebound in volumes of packaging transactions and stabilization of valuations. While certainly not approaching the peak of activity and pricing seen in 2021, the market has overall been healthier than in 2023.

Relieved that much of the world’s economy avoided recession in 2023, many in the packaging industry are nonetheless happy to have 2023 in the rearview mirror. While not necessarily a retraction, many in our industry dealt with uninspiring volume, increasing costs of labor, and increasing costs of financing. This lackluster economic backdrop and recession uncertainty, coupled with significantly increased interest rates, hit the M&A transaction market hard.

Mazzone & Associates (“Mazzone”) is pleased to announce that it acted as the exclusive financial advisor to Pamarco Global Graphics, Inc. (“Pamarco” or the “Company”), a leading provider of proven technology solutions for the global packaging, industrial coatings, commercial printing, and original equipment manufacturing industries, on Pamarco’s divestiture of certain mechanical engraving and gravure print assets previously located in Palmyra, NJ to Precision Roll Solutions (“PRS”), a portfolio company of Guardian Capital Partners.

As the Industry heads to Pack Expo in September, Mazzone & Associates provides our semi-annual update on Mergers & Acquisitions activity in the Packaging Industry.

Mazzone & Associates (“Mazzone”) is pleased to announce that it acted as exclusive financial advisor to TSC Auto ID Technology Company (“TSC”) with respect to its acquisition of a producer of labels and shrink sleeves located in Poland (“the Company”).

The Company is a privately held producer of TTR Tapes, unprinted labels, flexographic printed labels, and shrink sleeves for the Polish and European market. The Company also offers label printers, code scanners, mobile terminals, and RFID technology for its customers. Operations are conducted in two facilities strategically located in Poland.

2022 ended on a whimper, bringing 2022's M&A transaction volume down by over 20% across all industries as increases in inflation and interest rates as well as fears of recession dampened appetites for acquisitions worldwide. Similarly, Valuations (measured as a multiple of EBITDA) declined by at least 1.9x from 2021’s high point. Mazzone’s universe of Packaging Transactions, however, points to a more resilient marketplace. Overall, our tracked global deal volume declined 9% over 2021 and median EBITDA valuations declined by 0.7x. While not good news, 2022’s Packaging Sellers can take solace that they fared better than the overall market.

Mazzone & Associates is pleased to announce that it acted as the exclusive financial advisor to INDEVCO North American on its acquisition of Perma R Products, Inc.

After a banner year for acquisitions in 2021, everyone anticipated a decrease in deal activity. Indeed, broader measures for 2022 suggest deal activity will be down as much as 20%versus 2021. Anecdotally, greater availability among providers of QOEs and Rep & Warranty Insurance indicates capacity in these support industries, which further supports a sense of a softer market.

Mazzone & Associates (“Mazzone”) is pleased to announce that it acted as exclusive financial advisor to Mativ Holdings, Inc. (NYSE: MATV), (“Mativ”) on its sale of the product arm of Filtrexx, Inc. (“Filtrexx”) to MKB Company, a portfolio company of Kurtz Bros., Inc.