Investment funds managed by Morgan Stanley Capital Partners (MSCP), the Private Equity team within Morgan Stanley Investment Management, announced today that they have completed an investment in Fisher Container (“Fisher” or the “Company”). MSCP is partnering with experienced plastics and packaging executive, Kevin Keneally, and the current Fisher management team to acquire the Company.
Fisher, headquartered in Buffalo Grove, IL, is a leading manufacturer of innovative and technical flexible packaging products, primarily for the cleanroom, food and industrial end markets. The Company prints and converts flexible plastic pouches, bags and films. Fisher Container is a third generation family business, founded by Don Fisher in 1969.
Don Fisher said, “I am very proud of our family business and have taken great care to find the best partner to take it forward. I have come to know the MSCP team well and am confident that they bring the skills, capabilities, and approach necessary to build and expand on our success.” Kevin Keneally will become Chief Executive Officer as part of the transaction and will replace Don Fisher, who will be retiring.
“MSCP has a long history of working with differentiated founder-owned companies that have a strong culture, and we are excited to partner with Fisher Container,” said Eric Kanter, Managing Director of Morgan Stanley Capital Partners. “We would like to thank Don Fisher for his steadfast commitment and numerous contributions to the company. Due to his leadership, we believe Fisher is well-positioned with attractive capabilities and should be able to capitalize on significant organic and acquisition-oriented growth opportunities.”
Mark Bye, Managing Director and Operating Partner of Morgan Stanley Capital Partners, added, “We are delighted to partner with Kevin Keneally, who brings exceptional plastics and packaging experience to a founder-owned business. MSCP’s investment in Fisher is the culmination of a multi-year review of the packaging sector, and we believe the company is primed for outsized growth. We look forward to supporting the management team as they work to further strengthen Fisher’s offerings through improved commercial strategies and operations.”
Kevin Keneally, Chief Executive Officer of Fisher, said, “Fisher Container has a tremendous history and first-class reputation in the marketplace. I’m delighted to join the management team and to partner with Morgan Stanley Capital Partners. We are proud of the accomplishments of the Fisher family and expect the new partnership to deliver significant value as we build upon an already strong foundation. Our goal is to expand Fisher’s services and capabilities to our customers.”
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, the middle-market focused private equity business of Morgan Stanley Investment Management, is a leading middle-market private equity platform that has invested capital in a broad spectrum of industries for over two decades. Morgan Stanley Capital Partners focuses on privately negotiated equity and equity-related investments primarily in North America, as well as Europe and other regions and seeks to create value in portfolio companies primarily through operational improvement. For further information about Morgan Stanley Capital Partners, please visit www.morganstanley.com.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 590 investment professionals around the world and $417 billion in assets under management or supervision as of September 30, 2016. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.