Tail End Successfully Exits Gelpac

Pittsburgh, PA – June 6, 2024: Tail End Capital (“Tail End”) successfully exited its investment in Gelpac with its sale to ProAmpac. Tail End invested in Gelpac through a GP-led secondary vehicle managed by Namakor Holdings (“Namakor”). Gelpac, headquartered in Montreal, is a premier manufacturer of multiwall paper and poly-woven packaging products. ProAmpac, backed by Pritzker Private Capital (“PPC”), is a global leader in flexible packaging and material science.

 

In August 2021 Tail End provided partial liquidity to the largest Gelpac investor and capital to support Gelpac’s further growth. Gelpac used the growth capital to expand its existing production capacity and to make a strategic acquisition to grow its United States footprint.

 

Combining Gelpac and ProAmpac will allow the company to better serve customers in the high-growth food & beverage, agriculture, industrial, and pharmaceutical end markets. Gelpac’s production capabilities and high-performance paper and poly products will offer increased capacity and broaden ProAmpac’s product portfolio for customers across the United States and Canada.

 

“ProAmpac is the ideal partner for Gelpac’s continued growth and innovation,” said Alain Robillard, President and CEO of Gelpac. “ProAmpac’s platform and capabilities will provide significant benefits to our customers and key partners as we continue to offer exemplary packaging solutions in the market. On behalf of the management team and employees of Gelpac, we are thrilled to pursue our next stage of growth with ProAmpac as our new partner.”

Since Namakor’s original investment in 2017, Gelpac has seen its EBITDA grow 5x. Mike Blume, Partner at Tail End commented, “Tail End is proud to have provided partial interim liquidity to Gelpac’s largest investor at an attractive return while extending the value creation path of a great business. Gelpac has world-class management, technology, and infrastructure. It checked all the boxes for Tail End as a resilient business with proven ways to grow.”

Paul Cohn, Partner at Tail End, added, “Namakor has been a great partner to Tail End. We are proud of the accomplishments and growth Gelpac achieved during Tail End’s ownership and look forward to Gelpac’s continued success under ProAmpac and PPC’s stewardship in the years to come.”