Equity firm buys Fort Dearborn
Private equity firm Genstar Capital LLC announced that it has signed an agreement to acquire Fort Dearborn Company, a provider of decorative labels to the consumer goods industry. Fort Dearborn management, along with many of the current shareholders, will participate in the company’s new ownership.
As part of the transaction, Fort Dearborn’s current chief operating officer, Michael Anderson, will assume the role of president and CEO. Richard Adler Jr., the company’s current president and CEO, will keep a position on the board of directors and will serve as an advisor to the company.
“I truly believe Genstar’s acquisition of Fort Dearborn is the best outcome for the shareholders, customers and associates of our company,” says Anderson. “With Genstar’s support, we are excited to grow Fort Dearborn’s business profitably and to continue to provide our customers with high quality products and services.”
Fort Dearborn specializes in cut and stack, pressure sensitive and shrink sleeve label solutions for the beverage, food, household products, paint and coatings, personal care, and private label/retail markets. Founded in 1925 as a single press shop in Chicago by Nick Adler Jr., Fort Dearborn now operates out of six facilities nationwide and is headquartered in Elk Grove, IL, USA.