Heartwood Partners is pleased to announce that on November 4, 2024, Heartwood Partners II, LP (“Fund II”) and affiliated entities sold Outlook Group, LLC (“Outlook” or the “Company”), a business unit of Fund II platform M&Q Holdings LLC.
Headquartered in Neenah, WI, Outlook is a leading provider of labels, converting, and packaging solutions serving the food, medical, and consumer staples markets. In addition, Outlook’s Integrated Packaging division provides complete supply chain solutions, reducing customers’ costs and complexity by consolidating traditional multi-step packaging processes into a single touchpoint.
Under Heartwood Partners’ ownership, Outlook built-out a strong management team and invested heavily in its manufacturing capabilities, including digital Domino label presses, ultra thin-film label converting, and an upgraded Radius ERP system. These investments generated strong financial results, with Outlook’s EBITDA more than tripling during Heartwood’s hold period.
Outlook’s CEO, Mike Jansen, commented: “In partnership with Heartwood Partners, Outlook has developed into the preferred supplier of label, converting, and packaging solutions for our customers. Heartwood’s commitment to using a healthy corporate balance sheet enabled us to invest in people and processes and simultaneously drive growth and improve the overall customer experience. We are excited for the next phase of Outlook’s growth.”
Mark Allsteadt, Managing Partner at Heartwood Partners stated: “We are proud of what we have achieved together with Outlook Group. Through our partnership, we have helped accelerate Outlook Group’s growth, strengthen its market position, and drive innovation. This successful exit underscores the value of our low-leverage strategy and commitment to building industry-leading companies. We’re excited to watch Outlook Group continue to thrive and build on the strong foundation we’ve established together.”
Finn Dixon & Herling LLP served as legal advisor and BMO Capital Markets served as financial adviser to Outlook Group and its investors.
¹Mr. Mike Jansen is not a client or investor of Heartwood Partners, nor was he compensated for his statements herein
Please contact the following members of the investment team at Heartwood Partners with investment or add-on opportunities:
Mark Allsteadt | Managing Partner
mallsteadt@heartwoodpartners.com
Demetrios Dounis | Managing Partner
John Willert | Partner
jwillert@heartwoodpartners.com
John Newman | Managing Director
Sarah Paquet | Principal