Stevenson completes sale of Ascend Packaging Systems
Result: Business Sold to Family Office
Industry: Manufacturing
Ascend Packaging Systems, a Pharma Packaging Solution Provider located in Rolling Meadows, IL., has been sold to SMG Group. Stevenson & Company was the exclusive sale advisor to Ascend.
Ascend serves a blue-chip customer base in the pharmaceutical industry and has a 25-year
history in bottle-filling and blister packaging equipment and replacement parts.
Manny Gandhi, CEO of SMG Group, shared his thoughts, “Our previous acquisitions in the packaging industry just got a ‘booster shot’ through Ascend, breaking into a niche market for the pharmaceutical packaging industry. By strategically pairing Ascend with our manufacturing acquisitions, we will realize cost synergies while broadening and deepening our capabilities to serve a wide variety of customers.”
Joel Gray, President of Ascend, expressed his enthusiasm, “The Stevenson team’s comprehensive marketing strategy and invaluable guidance throughout negotiations and due diligence were instrumental in successfully closing this transaction. Their expertise ensured a mutually beneficial outcome for all parties involved. We are thrilled to have found a partner in SMG Group and are confident that this is the right step in the company’s evolution and growth.”
Stevenson served as an excellent trusted advisor throughout. They provided me with precisely what I needed – an aggressive go-to-market approach, the guidance to present Aerostar’s story and future strategy, and the drive to get it successfully closed! And this is what retirement looks like!