CHICAGO — February 5, 2019 — Mesirow Financial acted as the exclusive financial advisor to Perpetual Recycling Solutions LLC on its sale to DAK Americas LLC, a wholly owned subsidiary of Alpek, S.A.B. de C.V.
Headquartered in Richmond, Ind., Perpetual is a leading post-consumer plastic recycler and producer of rPET flake. The Company’s high-quality rPET flake can be used in a range of applications including food, foodservice and drink containers, industrial strapping and fiber for carpet and clothing, among others. The Company’s PET recycling operations have an approximate annual capacity of 100 million lbs/yr (~45,000 tons/yr) of high-quality Recycled Polyethylene Terephthalate (rPET) flake.
Peter Zurkow, CEO of Perpetual, commented on the asset sale: “The recycled PET market has gained a lot of momentum in recent years and Mesirow Financial’s industry relationships, expertise and senior-level support was instrumental in securing a successful sale of Perpetual’s assets. We look forward to transitioning our operations to DAK and value their commitment to furthering the growth of recycling initiatives that have been the foundation of Perpetual.”
“We have enjoyed a five-year relationship with Perpetual and successfully advised them through two strategic transactions. We were honored to once again represent Perpetual in this asset sale,” said Rocky Pontikes, managing director of Mesirow Financial’s Investment Banking group. “Perpetual and DAK are very complementary and I am confident that the recycling business and end-use markets will continue to grow under the new watch of DAK Americas.”
The transaction represents another successful assignment completed by Mesirow Financial’s Investment Banking group. With extensive sector-specific expertise and deep long-standing relationships, Mesirow Financial’s team has a proven track record of completing successful transactions.
Posted February 6, 2019
Source: Mesirow Financial
