Calfee Client MPE Partners Announces Formation of New Food Packaging Platform

Calfee congratulates our client, Morgenthaler Private Equity (MPE Partners), on its investments in and the simultaneous merger of Central Coated Products and Sun America to establish a new platform dedicated to providing custom, innovative, and high-performance food packaging solutions. Central Coated and Sun America will both continue to operate out of their current manufacturing facilities located in Alliance, Ohio, with no changes to day-to-day business operations. 

MPE Partners seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland and Boston, MPE invests in profitable, lower middle market companies with EBITDA between $8 million and $40 million. MPE has two primary target investment areas: high-value manufacturing and commercial and industrial services.  

Central Coated manufactures custom cut and coated wax paper for food processing, food service, and industrial applications, designed for customers’ automated production lines to facilitate the continuous separation of food products, grease resistant food service wax paper for retail settings, and anti-slip wax paper for industrial and material handling applications. 

Sun America designs and manufactures custom paper baking cups for the high-speed production of muffins, cupcakes, and other baked goods, as well as thermoformed plastic containers and trays for automated packaging processes. 

The merged entity will offer an expanded portfolio, including plastic containers, custom wax paper, and paper baking cups serving meat, cheese, bakery and other food processing customers through direct sales and distribution channels. The company’s Carnation brand remains a significant player in the food service segment. 

Calfee represented MPE Partners in this transaction. Calfee’s Calfee’s legal team was led by Corporate and Finance Co-Chair and Partner Brent M. Pietrafese and included Partners Salvatore J. (Sam) Totino (Corporate and Finance Law), Michael K. (Mike) Gall (Tax Law), Joshua G. (Josh) Berggrun (Real Estate Law), Ellen G. Dorsten (Commercial Lending Law), and Associate Attorneys Stephen Carpinello (Corporate and Finance Law), Jacob J. (Jake) Bourquin (Corporate and Finance Law), Conner H. Judson (Corporate Law and Real Estate Law), and Terrence J. (TJ) Killeen, Jr. (Commercial Lending Law). 

Read the full release here.

With 45+ dedicated attorneys, the Corporate and Finance practice group at Calfee, Halter & Griswold LLP is one of the largest and most prolific in Ohio, handling a significant number of complex and sophisticated business and financial transactions for clients across the country and globally. 

Calfee has a sophisticated and robust Mergers and Acquisitions, Divestitures, and Sales practice, annually consummating 60-75 M&A transactions, led by an active private equity client base and a large roster of public and significant privately held corporate clients. These financial and strategic buyers, coupled with our deep investment banking representations and relationships, drive a thriving and diverse M&A practice at Calfee. 

Calfee's Private Equity team – comprised of more than 30 corporate, securities, tax, and employee benefits attorneys – is dedicated to getting the deal done while remaining responsive, creative, and efficient in negotiating and closing transactions for clients.