Graycliff Partners closes a deal with HBM Holdings to sell HarperLove after keeping it for six years

on Jan 5, 2020
  • Graycliff Partner sells HarperLove to HBM Holdings after keeping it for six years.
  • Graycliff invested in HarperLove in 2014 and improved its profitability by over 100% in six years.
  • Graycliff closed its latest buyout fund, Graycliff Private Equity Partners IV LP (GPEP IV) at $350 million.

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As per the recent announcement, Graycliff Partners has finalized the deal with HBM Holdings Company to sell HarperLove Holdings. HarperLove is a leading name in the league of specialty chemicals and services providers.

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Harperlove has a history of working with packaging manufacturers for over 40 years. It is known to provide a wide range of additive solutions that not only protect the paper-based products against corrugation but also adds unique physical attributes.

Graycliff Partners Invested In HarperLove In 2014

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Graycliff has held HarperLove for almost six years. Following the acquisition in 2014, the firm had hired a top-class management team that executed vertical integration to improve margins and launch growth initiatives which concluded in enhancing its profitability by over 100%.

Graycliff’s managing director, Will Henderson, commented after closing the deal with HBM Holdings:

“We are immensely proud of all that we have accomplished at HarperLove. It’s been a pleasure working with the team and we wish them the best going forward.”

Graycliff’s managing partner, Duke Punhong also appreciated the valuable role that HarperLove played in the past six years in reinsuring the leading position for the firm in the industry. He particularly highlighted the technical and service focused expertise that HarperLove brought onboard that turned it into a precious partner through the course of the acquisition.

On the other hand, Alan Clark commented on the news in his capacity as HarperLove’s CEO and stated that Graycliff remained an outstanding partner for the company since 2014. He also dedicated much of the company’s success in the past six years to the valuable guidance and support that Graycliff provided. He also expressed confidence in extending the company’s success under the banner of HBM Holdings.

Graycliff Closed Its Latest Buyout Fund At $350 Million

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As of December 2019, Graycliff has announced that Graycliff Private Equity Partners IV LP (GPEP IV), the firm’s latest buyout fund, finally closed at $350 million (limited partner commitments). GPEP IV is likely to extend Graycliff’s tradition of focusing its control buyout investments at middle-market companies. The firm aims at partnering with the family-owned businesses or founders in various sectors including business services, manufacturing, and value-added distribution.

Through the course of the acquisition and for closing the deal with HBM Holdings, Piper Jaffray & Co. continued to play the crucial role of a financial advisor for both Graycliff Partners as well as HarperLove.

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