First Atlantic in conjunction with Berry’s management improved the company’s business strategy and practices. Between 1990 and 2002, Berry with First Atlantic’s support completed 15 strategic add-on acquisitions that created a solid platform in the plastics packaging business, with First Atlantic’s ownership rolled from AEP I to AEP II.

• Expansion of Berry’s strong management team
• Investment in manufacturing and systems technology to lower production costs
• Enhancement of product development and value-added capabilities such as decorating
• Aggressive acquisition strategy with 15 add-on acquisitions

First Atlantic and Captive’s management team developed and implemented strategies that enhanced the company’s operations and positioned it as a player in higher growth markets and product niches. The family that owned Captive retained significant ownership post sale to First Atlantic. Core value creation elements included:

• Improvement of sales and marketing processes
• Investment in low-cost manufacturing technology

The Company made three add-on acquisitions in an 18 month period and consolidated them within a 3 year period into an attractive, integrated blow-molded and injection-molded supplier.

First Atlantic successfully partnered with Founder and management to grow revenue and EBITDA over four years through:

• Realization of significant cost savings
• Implementation of development program for new complementary products
• Launch of new sales initiatives and targeted large foodservice accounts
• Execution of new performance measurement system

The build-up was executed without any add-on acquisitions, relying instead on new products and operating improvements. The Founder retained a significant ownership in the business post sale to First Atlantic.

First Atlantic worked closely with management to strategically reposition the business within four years. Core value creation elements included:

• Migrated away from “one-product company” viewpoint
• Drove market segmentation and new product introduction
• Instituted a customer-driven marketing approach in a distribution-based business
• Improved profitability and cash flow through better equipment management