Private equity house Halifax Group has bought into Prairie Industries and Nu-Pak, a contract packaging and ready-to-eat food manufacturer.
Prairie provides primary and secondary packaging services for end markets including home improvement, safety, sanitation and humidity control, while Nu-Pak manufactures ready-to-eat and healthy snacking foods and products.
Halifax partner Scott Plumridge said, “As consumer product companies continue to outsource their increasingly complex packaging and manufacturing needs, there is a growing demand for the high-quality services offered by Prairie Industries and Nu-Pak.
“As part of an active, thesis-driven search process, we have evaluated businesses in the sector for several years and believe that this business sets itself apart through its specialized offerings, flexible service model, superior customer service, and best-in-class product quality and food safety.”
US buyout house Halifax Group struck its $650m hard cap for the final close of its fourth flagship fund two years ago.
The firm initially hoped to raise $550m for the vehicle, but saw strong demand from existing investors.
About 90 per cent of Fund IV LPs were previous backers according to the firm, with almost 75 per cent increasing the size of their commitments.
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