Strategic investment from SK Capital to support Lacerta’s continued leadership in providing innovative and sustainable packaging solutions to a rapidly growing market

MANSFIELD, Mass., January 11, 2021 ­­– Lacerta Group, Inc. (“Lacerta” or the “Company”), a leading designer and manufacturer of specialty thermoformed packaging solutions, announced today a strategic investment from funds advised by SK Capital Partners, LP, a New York-based private investment firm focused exclusively on the specialty materials, chemicals and pharmaceuticals sectors.

SK Capital is acquiring a majority interest in the Mansfield, Mass.-based business. Lacerta’s co-founders, Ali and Mory Lotfi, will continue to retain a significant ownership stake in the Company. Terms of the deal were not announced.

Privately held since it was founded in 1993, Lacerta is a leading provider of innovative packaging solutions primarily serving the food sector. The Company offers a comprehensive range of custom PET packaging products, including a leading line of tamper-evident products sold under the “Fresh N’ Sealed” brand. Lacerta has experienced top-line growth of 25% annually since 2013 driven by a customer-centric model that is supported by product innovation and fulfilment through its extensive in-house manufacturing capabilities. Given that the vast majority of its products are 100% recyclable, and the packaging solutions produced by the Company can be made with up to 100% recycled content, Lacerta promotes a more circular and sustainable approach to food packaging.

Lacerta offers a complete range of manufacturing services, from concept development, prototyping and mold making, to thermoforming, extrusion, printing and quality assurance. The Company operates thermoforming machines capable of producing millions of packages per year. It also has CNC milling machines for mold making and in-house prototyping thermoformers to help turn around prototypes –– usually within one week. In a rapid response to the needs created by the current pandemic, the Company has also developed a face shield made from PET resin for use by healthcare and retail workers.

“Ali, Mory and the Lacerta team have built an exceptional business with a best-in-class reputation for customer service, innovation and sustainable products,” said Jack Norris, Managing Director of SK Capital. “We look forward to partnering with Ali and Mory to support the continuation of Lacerta’s extraordinary growth. Our mutual focus is on preserving Lacerta’s customer-centric approach, which is highly differentiated in the market, while at the same time putting in place the required systems, processes and capabilities that will enable the Company to scale alongside its expanding customer base.”

“Today marks the beginning of an exciting new chapter for Lacerta,” stated Lacerta President Ali Lotfi. “We chose to partner with SK Capital given its track record of successfully supporting the growth and improvement of family-owned businesses and the fit between our needs and SK’s capabilities. Our organizations share the same core values and long-term orientation that have been a hallmark of Lacerta’s success to date. We are aligned in our vision to build Lacerta into a world-class packaging solutions provider.”

SK Capital Senior Director Dave Mezzanotte added, “We view Lacerta as a platform that can be grown in a multitude of ways to serve a wider range of its customers’ requirements. We’re especially excited about the opportunity Lacerta has to enable its customers to meet their internal sustainability targets by utilizing packaging that’s fully recyclable and incorporating recycled content at increasingly higher levels.”

Latham & Watkins LLP acted as legal counsel to SK Capital, and debt financing was led by Citizens Bank, N.A. Citizens M&A Advisory acted as exclusive financial advisor to Lacerta.

About SK Capital

SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and pharmaceuticals sectors. The firm seeks to build strong and growing businesses that create substantial long-term value. SK Capital utilizes its industry, operating and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth and profitability as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $11 billion annually, employs more than 15,000 people globally and operates 137 plants in 28 countries. The firm currently has approximately $4.86 billion of assets under management. For more information, please visit www.skcapitalpartners.com.

About Lacerta Group

Founded in 1993, Lacerta Group, Inc. is a leading provider of innovative thermoformed packaging solutions. The Company has built its reputation based on product integrity, excellent customer service and above all, speed to market. Lacerta offers a comprehensive product portfolio and in-house design capabilities, with a customer-centric business model focused on tailored solutions for food processors and supermarkets. The Company’s fully integrated manufacturing platform includes capabilities across the product lifecycle in design & engineering, prototyping, mold-making & tooling, thermoforming, extrusion and printing. Headquartered in Mansfield, Massachusetts, Lacerta operates four facilities in Mansfield and one in Chatsworth, California. Learn more by visiting www.lacerta.com.