SOUTHLAKE, Texas and ORWIGSBURG, Pennsylvania – March 6, 2023 – Insight Equity Holdings LLC (“Insight Equity”), a private equity firm with 21 years of experience investing in middle-market companies, is pleased to announce the acquisition of Clearly Clean Holdings, LLC (“Clearly Clean” or the “Company”). Clearly Clean is a manufacturer of 100% recyclable polyethylene terephthalate (“PET”) food trays. PET is a clear, strong, and lightweight plastic used in food and beverage packaging. The Company offers a variety of sustainable products including: (i) rolled-edge overwrap trays, (ii) vacuum skin packaging and modified atmosphere packaging trays, and (iii) multi-peelable layer packaging. Clearly Clean produces its trays using a patented “rolled edge” thermoforming and manufacturing process, which provides a product quality and recyclability advantage in the marketplace. Insight Equity partnered with Blue Sage Capital, as a minority investor, in acquiring the Company.
Millard Wallace, Managing Member of Clearly Clean, added, “Clearly Clean is well positioned to enter the next stage of its growth lifecycle, and its market position, intense focus on customer satisfaction, and high-quality product offerings support that outlook.” Jeff Maguire, Managing Member of Clearly Clean, noted, “Our team is excited to partner with the Insight Equity team and looks forward to finding sustainable and innovative solutions to fulfill the needs of our customers. With the financial support and operational expertise of Insight Equity, Cleary Clean’s best days should be yet to come.” Peter Kolb, Managing Member of Clearly Clean, remarked, “Insight Equity distinguished itself in their deep understanding of our business and manufacturing process, as well as their commitment to pursuing growth opportunities, enhancing competitive advantages, and expanding the Company’s capabilities to serve new markets.”
Jeffrey Parent, a Principal at Insight Equity, noted, “Clearly Clean has differentiated itself through its ability to deliver high quality, recyclable products with superior quality across a variety of sizes and colors. We are excited about the Company’s potential and look forward to partnering with management to continue building on Clearly Clean’s solid foundation of exceptional products, brand awareness, and high service levels. Additionally, we are excited to partner with the Blue Sage Capital team, including Jonathan Pearce and Joe Haddad, as we look to bring our extensive collective experiences to greatly enhance the value of the Company.”
“Clearly Clean is a key supplier of PET food trays and other packaging products to blue-chip customers across the country. We look forward to partnering with Clearly Clean and believe our hands-on, collaborative approach will allow us to complement the team, driving additional growth and innovation for Cleary Clean’s customers,” remarked TJ Stone, a Senior Vice President at Insight Equity.
Founded in 2007, Clearly Clean is headquartered in Orwigsburg, Pennsylvania. Clearly Clean offers fresh food producers, distributors, and retailers an eco-friendly PET packaging solution with a focus on poultry, meat, produce, seafood, and other food products.
Insight Equity makes control investments in strategically viable, middle-market manufacturing and distribution businesses across a wide range of industries. Leveraging its collaborative value creation model, Insight Equity facilitates operating enhancements, efficiency improvements, and growth. The firm specializes in partnering with companies in complex, unique, or challenging situations, including corporate divestitures, management buyouts, growth opportunities, going-private transactions, restructurings, and transitions from family ownership. Insight Equity is headquartered near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City. For questions or inquiries, please contact Jeffrey Parent ([email protected]) or TJ Stone ([email protected]).