Midwest Can (“MWC”) manufactures HDPE containers, primarily for the portable fuel container market. Key products include fuel cans, metal cans, industrial cans and water cans.
Case Study
Midwest Can & Container Specialties
Refinanced in 2019
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How GenNx360 partnered with the Company
Transformed product line
Introduced new products and improved pricing
Focused on customer safety
Market innovator and leader in safety
Professionalized team
Rebuilt leadership team
Increased profitability
Reduced material cost, increased margins by 25%
Product Innovations Drive Growth
Industry leader in safety & innovation
Transformed product line
Rebuilt leadership team with growth focus
Reduced material cost: Increased EBITDA by ~400bps
Completed sale of MWC in 2020
Transaction Sourcing
- Proactively selected packaging sector for investment
- Partnered with packaging executive in 2015
- Completed transaction on proprietary basis
Investment Highlights
- Industry experiencing stable, non-cyclical growth
- Recognized industry safety leader
- History of high, sustainable margins
- Diverse and loyal customer base
- Significant opportunity for impact to value
Key Initiatives Completed
- Rebuilt leadership team with new CEO, CFO, and VP of Operations
- Implemented new commercial strategy, expanding the sales organization and launched new pricing strategy
- Established new product pipeline with two key introductions: New spout in 2017 and flame mitigation device in 2018
- With new sourcing process, reduced waste and implemented process improvement projects
- Completed the sale of MWC in 2020