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GLENCOE CAPITAL ACQUIRES POLYAIR INTER PACK INC.
Chicago-Based Private Equity Firm Buys Controlling Interest
(TORONTO, ONTARIO - February 5, 2008) Glencoe Capital portfolio company Polyair Inter Pack Inc. (TSX:PPK), a Toronto, Ontario-based protective packaging company, announced today that it has been advised that Glencoe Skydome Holdings, L.P. (GSH) has acquired 223,900 common shares of Polyair.
This brings GSH's total holdings in Polyair to 3,626,412 common shares, representing approximately 51.82% of the total outstanding shares of Polyair.
Polyair Inter Pack, Inc. is advised that the acquisition was made pursuant to an exemption from the takeover bid requirements under applicable securities laws, and that the purchase of the Polyair shares by GSH was made through private transactions for investment purposes.
About Glencoe Capital
Founded in 1993 and based in Chicago, Glencoe Capital focuses on leveraged buyouts of middle-market businesses valued between $30 million and $150 million. The firm's proprietary Executive Network is a group of successful Fortune 1000 business executives, entrepreneurs and other business leaders who source deals and provide operational and strategic expertise to portfolio companies. Glencoe Capital invests throughout the U.S. and Canada.
About Polyair
Polyair Inter Pack Inc. manufactures and distributes a wide range of protective packaging products and swimming pool covers in North America. The Company operates eight manufacturing facilities—seven of which are in the U.S., where the company generates the majority of its sales. For more information, visit www.polyair.com.
For more information, contact:
or
Clovis, Inc.
(312) 346-1700
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