MIAMI, FL – (December 1, 2009) – Trivest Partners, L.P. (“Trivest”) today announced the sale of its shares of Box-Board Holding Corporation (“Box-Board” or the “Company”) to a strategic buyer.
Founded in 1968, Box-Board is a leading manufacturer of custom corrugated products headquartered in Greensboro, North Carolina. Trivest originally acquired its shares in Box-Board on October 31, 2006 through a recapitalization in conjunction with Box-Board’s founder, Gray Ingram. Box-Board was funded with capital from Trivest Fund III, a $316 million private investment fund.
Troy Templeton, Trivest’s Managing Partner said, “Box-Board was an outstanding investment for our firm. Over the past few years, the Company’s management team did a tremendous job of driving organic growth through a challenging economic climate. The entire Box-Board management team, led by Rodney Ingram, Gray Ingram and Bryan Sizemore, deserve a great deal of credit for the Company’s success.”
Rodney Ingram, Box-Board’s Chief Executive Officer stated, “When we initially met the Trivest team, we believed that they could take our business to the next level and they delivered. First, they facilitated a smooth transition of ownership through their commitment to maintaining the customer service focused culture that has been the foundation of Box-Board’s strategy. Second, Trivest creatively structured the transaction to provide stock ownership opportunities for 25 of our key managers. Third, their team helped us expand through complementary acquisitions within our geographic footprint. Trivest also provided the necessary support in the areas of financial planning, lender negotiations, and strategy. We are thankful for Trivest’s support over the years.”
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed nearly 150 transactions, totaling over $4.0 billion in value. For additional information, please visit www.trivest.com.