L&E Packaging, Inc.
Closely-Held Family-Owned Transaction
L&E Packaging, Inc.
L&E Packaging, Inc., based in Greensboro, North Carolina and Hong Kong was a privately-owned and family-controlled manufacturer of printed identity tags for the apparel industry. Mann, Armistead & Epperson, Ltd. was first engaged by L&E when the company received an unsolicited offer from a competitor based in Europe. Upon analysis, it was determined that the family was preparing for a transition of ownership and desired to seek liquidity for its holdings. More importantly, the family wanted the management team to partner with a financial sponsor, retain ownership and potentially have a “second bite at the apple”. Our firm structured a process which focused primarily on private equity firms as opposed to strategic buyers who would want 100% control. We ultimately structured an $80.0 million management led buy-out backed by the Stephens Group of Little Rock, Arkansas.
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