Transilwrap Company Inc., a 73 year old manufacturer of coated plastic films based in Franklin Park, IL, USA, has been acquired by its management. Headed by President Mark Stevens, the nine-member management group purchased the company from the founding families of Sabra Minkus and Herb Drower with financing provided by its senior lender.
“We felt strongly that we needed to execute a succession plan that did not disrupt the cultural continuity of the company,” says Drower, the former president. “This arrangement provided for the ideal transition of the company to the next generation.” He and Minkus remain employees and directors of the company.
The entire Transilwrap business in the United States and its Canadian subsidiary is included in the ownership change. The company has three business groups: TransKote, which produces extrusion coated laminating films for books, graphic enhancement, digital finishing and security ID; Print, providing plastics and synthetics for litho screen, flexo and digital printing; and Films, for packaging, industrial and medical markets.