Genstar Capital buys Fort Dearborn
ELK GROVE, Ill.-Private equity firm Genstar Capital, LLC announced that it has signed a definitive 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 also 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 chief executive officer. Richard Adler, Jr., the company’s current president and chief executive officer will maintain a position on Fort Dearborn’s 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,” said 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.
“Genstar has spent the past year evaluating opportunities in the decorative label industry and we believe that Fort Dearborn is the most attractive platform company in this space,” said Richard Hoskins, managing director of Genstar Capital. “We are backing the best and strongest management team in the industry.”
“Genstar’s investment in Fort Dearborn represents a significant milestone in our evolution from a family-run organization, as well as a vote of confidence in the dedication and accomplishments of all our associates,” said Richard Adler, Jr. “With Genstar’s financial backing and commitment, we will be able to make aggressive strategic investments to solidify Fort Dearborn’s position as the label industry leader.”
