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Business Description:
Matrix is a leading North American manufacturer of high-quality plastic packaging, serving the personal care, household chemicals, and pharmaceutical markets.
Reason for Sale:
The founders and sole shareholders of Matrix entered into a sale process to identify a partner to provide strategic and financial support to grow the company.
Management Participation:
Management was incentivized through an equity structure that rewarded them for achieving growth objectives. Matrix’s founders maintained a significant ownership stake in the company and remained involved in the operations of Matrix.
Investment Success:
Tricor provided substantial follow on growth capital, which allowed the company to win large contracts and commit to higher volumes. Matrix was sold to Sonoco Products Co. (NYSE: SON), one of the largest diversified global packaging companies in the world.
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“Tricor has been an exceptional partner for Matrix. Substantial value has been created for our shareholders as Tricor provided the capital and strategic assistance we needed to grow our business.”
Pushminder Judge
President
Matrix Packaging Inc.
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