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Company Overview
Beck Holding Corporation, the parent company of Beck Packaging Corporation, headquartered in Allentown, PA, was founded and began operating in 1970 by Irwin “Irv” Beck. Beck Packaging, a stocking and servicing distributor, has been serving the needs of businesses throughout the Lehigh Valley and surrounding areas of Pennsylvania, New Jersey and Delaware. In addition to representing some of the leading packaging materials and equipment manufacturers in the industry, the company also sources janitorial and safety supplies.
Situation
Management, the Board of Directors and the ESOP Trustee all agreed that for the company to continue to grow and expand, a strategic partner was needed that could provide depth of products and experience, breadth of ancillary services that could be offered to its clients and a management team that could continue the company after departure of the company’s current management team. As an employee-owned company, Beck Packaging was also seeking an attractive liquidity event for management and its employees.
Solution
Griffin was engaged by the company for the purpose of finding and negotiating a transaction that would accomplish all of those objectives. Pursuant to the engagement, and as a result of Griffin’s efforts, Lindenmeyr Munroe was selected. On April 1, 2019, Lindenmeyr Munroe closed on the stock purchase of Beck Holding Corporation.
“Griffin was of great assistance in enabling us to enter into a transaction that not only created a liquidity event for our employee owners, but was also a great strategic fit for our employees staying with the company and provides us the ability to excel moving forward. Using Griffin as our investment banker provided our Board and management team comfort that we found the right buyer and negotiated a great deal. Lindenmeyr Munroe is a partner that can take Beck to the next level,” said Greg Stoudt, President of Beck Packaging.
For more information on this transaction, please contact Mark B. Russell, Senior Managing Director, at 610.478.2166. For more information on Griffin’s services in general, contact any one of our investment banking professionals.
