Hicksville , NY - December 21, 2004 - Brynwood Partners announced today the acquisition of Uniflex Holdings. Brynwood's acquisition of Uniflex was made official through a court order from the United States Bankruptcy Court.
Henk Hartong III, Managing Partner of Brynwood said, "We are very excited about the acquisition of Uniflex. Brynwood will capitalize the new Uniflex as a debt free company and infuse additional cash to reestablish key vendor relationships and make capital improvements to the Westbury manufacturing facility."
Simultaneously, Brynwood has appointed Vince Schaller as the new President and CEO of Uniflex. Mr. Schaller brings over 20 years of experience in the commercial printing industry including an extensive background in sales and marketing as well as proven experience in the role of President and CEO. Prior to joining Uniflex Mr. Schaller was with Cenveo, the 6th largest printer in North Americas as a Senior Vice President of the Western Region that consisted of 16 manufacturing facilities with revenues of $500 million.
Vince Schaller, the new President and CEO of Uniflex said "This is a tremendous opportunity for Uniflex, our customers and the employees. Brynwood's acquisition will provide Uniflex with the resources and proven experience needed to return the company to its traditional leadership position in the industry. Our initial focus will be to strengthen customer relationships, upgrade production capabilities and to further insure reliable service and execution."
Founded in 1963, Uniflex is an industry leader in the design, manufacture, and marketing of customized plastic and paper bags as well as plastic packaging, medical and security products. Customers using Uniflex's products include Fortune 500 companies, major retailers, hospitals and medical laboratories. The company is based in Hicksville, New York with manufacturing facilities located in Westbury, New York.
For more information on Uniflex, please visit http://www.uniflexbags.com
About Brynwood Partners
Founded in 1984, Brynwood Partners is a private equity fund which invests in lower middle market companies over a long-tern horizon targeting consumer products, light industrial manufacturing, specialty retailing and business services. The principals of Brynwood had made investments in 17 portfolio companies and have successfully partnered with management and owners who want to continue to run their businesses but need the financial and operating partner support Brynwood uniquely provides.
For more information on Brynwood Partners, please visit http://www.brynwoodpartners.com