Charlesbank Capital Partners has completed its acquisition of Polyconcept, parent company of Top 40 supplier Polyconcept North America. Announced in July, this is Charlesbank’s first investment in the promotional product industry. Polyconcept’s management will remain unchanged, and will put in equity along with Charlesbank and other investors to finance the transaction. Terms of the agreement were not disclosed.
“We are very pleased to have the opportunity to partner with [Polyconcept’s] management team to expand the business globally, building on their track record of success and tapping into new opportunities for growth,” Charlesbank Managing Director Josh Klevens said last month after the acquisition was agreed upon.
In an exclusive interview with Counselor in July, David Nicholson, president of Polyconcept North America, said that with the acquisition, “We are excited about the opportunities to accelerate our growth and expansion – both through organic initiatives as well as through acquisitions. We will continue to be diligent and selective when it comes to acquisitions – focusing on those which bring a strategic value to Polyconcept.”
Charlesbank acquired Polyconcept from Investcorp and 3i. “We have had a successful chapter with Investcorp and are thankful for its partnership over the years,” said Gene Colleran, CEO for Polyconcept.