Irving Place Capital backed Multi Packaging Solutions has completed its acquisition of certain assets of Ivy Hill. This is Mulit Packaging's sixth add-on acquisition since Irving Place Capital (fka Bear Stearns Merchant Banking) acquired the company in 2004.
Since the beginning of 2009 there have been 69 add-on acquisitions by private equity backed companies, according to the PitchBook Platform. Those 69 Add-on deals represented about 40% of the total buyout deal flow so far this year. The biggest add-on was Behrman Capital backed Pelican Products' $200 million acquisition of Hardigg Industries. Application software saw the most activity of any industry sector with four add-on deals, closely followed by the logistics sector.