On September 2, 2003, Willowdale, Ontario-headquartered CCL Industries Inc., which develops manufacturing, packaging and labeling solutions for the consumer products industry, sold four business units. The businesses sold included CCL’s aluminum tube plant in Harrisonburg, Virginia, the laminate tube facility in Swedesboro, New Jersey, the plastic jar plant in Plattsburgh, New York, and the San Jose, Costa Rican facility that manufactures a variety of containers for the Central American market.
The purchaser is a private Ontario limited partnership, 50 per cent owned by the Brent Ullman Group, a private investment group, and 50 per cent owned by CCL, and will operate under the name of IntraPac LP. CCL received proceeds of approximately $74 million in cash and $13 million in equity of IntraPac. In addition, CCL will be entitled to additional consideration should future performance exceed specified benchmarks.
The Brent Ullman Group was represented in Canada by Gowling Lafleur Henderson LLP, with a team that included Paul Harricks, Filomena Frisina, Myron Dzulynsky, Stephen Harmer, Michael Peters and Peter Schneider; and in the US by White & Case LLP in New York, with a team that included Eric Berg, Ward Atterbury and Jason Ban; and in Costa Rica by Freddy Fachler and Fernado Vargas of Pacheco Coto.
CCL was represented by Lang Michener LLP, with a team that included Geofrey Myers, Carl De Vuono, Adam Taylor and Craig Halpenny.
Financing for the acquisition was provided by the Bank of Nova Scotia, which was represented in Canada by Jeff Goldenthal of Aird & Berlis LLP; in the US by Chip Conrad and Craig Lee of King & Spalding LLP in Atlanta; and in Costa Rica by Mario Quesada Bianchini of Laclé & Gutiérrez.