Corrugated

Graycliff Partners confirms sale

Graycliff Partners LP has announced the sale of HarperLove Holdings, LLC, a Charlotte, NC-based provider of specialty chemicals and services, to HBM Holdings Company. For over 40 years, HarperLove has worked with packaging manufacturers to provide a suite of additive solutions that impart special physical attributes to corrugated and paper-based products.

Since acquiring HarperLove in 2014, Graycliff recruited a best-in-class senior management team, embarked on a series of successful growth initiatives and improved margins through vertical integration – more than doubling profitability.

“We are proud of all that we have accomplished at HarperLove,” said Will Henderson, Managing Director at Graycliff. “It’s been a pleasure working with the team and we wish them the best going forward.”

Duke Punhong, Graycliff Managing Partner, commented, “HarperLove’s technical and service-oriented expertise has made it a valuable partner to its customers. The team has done a tremendous job of expanding the company’s industry leading position.”

“Graycliff has been an outstanding partner for HarperLove,” said Alan Clark, HarperLove CEO. “Our considerable success over the past five years has been aided by Graycliff’s support and guidance. We look forward to continued success as part of the HBM portfolio.”

In December 2019, Graycliff announced the final closing of its latest buyout fund, Graycliff Private Equity Partners IV LP (GPEP IV), at its hard cap of $350 million in limited partner commitments. GPEP IV will continue Graycliff’s strategy of making control buyout investments in lower middle market companies, with a focus on partnering with founder and family-owned businesses in the manufacturing, business services, and value-added distribution sectors.