Pilgrim Packaging of Huntley, IL, acquired by LBS of Des Moines, IA
illi News/10311687

HUNTLEY, Ill. - illiNews -- Calder Capital is pleased to announce the successful sale of Pilgrim Packaging of Huntley, Illinois, to LBS of Des Moines, Iowa.

Founded in 1987, Pilgrim Packaging is a long-established supplier of specialty converted materials serving the floral and related industries. After years of streamlining company operations, Co-Owners Anne and Mike Wilkinson chose to sell to spend more time with their grandchildren. The Wilkinsons engaged Calder Capital's sell-side team to identify the right buyer to continue the Company's legacy and growth trajectory.

LBS, a 100% employee-owned company founded in 1921, is a one-stop shop for the bookbinding and luxury packaging industries, offering cover materials, board products, adhesives, and more.

Jake McDonald of Calder Capital served as the Lead Mergers & Acquisitions Advisor to Pilgrim Packaging. Calder's Riley Hagen served as the Lead Analyst.

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Pilgrim Packaging's sale process includes the CIM being sent to 231 parties, with 17 offers received, and a timeline of just six months and a day from execution of the Engagement Agreement. The timeline from LOI to close was short of 10 weeks.

"From the very beginning, Jake and the Calder Capital team took the time to understand our business, our priorities, and our hopes for Pilgrim's future," shared Anne Wilkinson. "Their guidance, market knowledge, and ability to connect us with the perfect buyer were invaluable. The entire Calder team made what could have been a stressful process feel organized, transparent, and seamless from start to finish."

"Jake and the Calder team were fantastic partners throughout this process. They kept everyone aligned and made sure momentum never slowed. They provided a steady stream of information, and their balanced approach gave us confidence every step of the way, providing us with all the information needed to close Pilgrim Packaging promptly."

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Max Friar, Calder's Managing Partner, added, "Our team's experience in the packaging and distribution sectors, combined with our proven sell-side advisory process, ensures that business owners achieve maximum value. For Pilgrim Packaging, we were able to vet 17 serious buyers and their various offers."

To learn more about Pilgrim Packaging, please visit www.PilgrimPackaging.com.

To learn more about LBS, please visit https://www.LBSBind.com.

About Calder Capital:
Founded in 2013, Calder Capital is a cross-industry mergers and acquisitions advisory firm with offices across the United States. Calder provides valuation, sell-side, and buy-side services. We are nationally recognized for excellence in advising $1-100M enterprise value transactions in manufacturing, construction, distribution, and business services. Calder serves business owners, entrepreneurs, family offices, financial buyers, and investors. Learn more at www.CalderGR.com.