Raven Engineered Films announces its acquisition by Industrial Opportunity Partners

The partnership allows the company to continue developing and innovating technological advances in polymer foil and sheet solutions at Sioux Falls

Sioux Falls, SD, April 29, 2022–(BUSINESS WIRE)–Sioux Falls-based Raven Engineered Films today announced that Industrial Opportunity Partners (“IOP”) has acquired the business from CNH Industrial NV (NYSE: CNHI/MI: CNHI). IOP is an operations-focused private equity firm headquartered in Evanston, Illinois.

Scott Wickersham, president and general manager of Raven Engineered Films, will take over as CEO under new ownership.

“The IOP acquisition marks a new chapter for Raven Engineered Films that will benefit our team members and our communities,” Wickersham said. “We believe IOP will enable us to unleash the next levels of growth by creating new products and creating value for our customers.”

Raven Engineered Films is an innovator in developing and manufacturing lighter, thinner and stronger polymer film and sheet solutions to help solve application and product challenges worldwide. A former business unit of Raven Industries, Inc. Raven Engineered Films, the US leader in precision agriculture technology acquired by CNH Industrial NV in November 2021, Raven Engineered Films produces all HydraLine™ products from its central facility in Sioux Falls, providing two-day shipments nationwide with fast-to-order schedules and delivery.

“IOP is excited to have this partnership and provide the resources needed to support a future of growth and success,” said IOP’s Dave Mackin. “Raven’s engineering film division has been an industry leader and known for its innovation, reliability, and quality. We are confident that this partnership will help propel the company to new heights.”

About Raven Engineered Films

Founded by Raven Engineered Films, Inc. A solid reputation for manufacturing and supplying high performance flexible films and coverings to major markets throughout the United States and abroad. As an American manufacturer committed to producing films and panels that protect the Earth’s resources, Raven Engineered Films is dedicated to developing customized solutions that solve critical application challenges – integrating sustainable environmental design practices to achieve far-reaching performance. Learn more about Raven Engineered Films at https://ravenefd.com.

About CNH Industrial

CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. With its purpose to break new ground, focused on innovation, sustainability and productivity, the company provides the strategic direction, R&D capabilities and investments that enable the success of its five core brands: Case IH, New Holland Agriculture and STEYR, supplying 360-degree farming applications of machinery to the digital tools and technologies that enhance it; And CASE and New Holland Construction Equipment offer a full range of construction products that make the industry more productive. With a history spanning more than two centuries, CNH Industrial has always been a leader in its sectors and continues to innovate with enthusiasm and drive customer efficiency and success. As a truly global company, CNH Industrial’s more than 37,000 employees are part of a diverse and inclusive workplace, focused on empowering customers to grow and build a better world. For more information visit: cnhindustrial.com

About Industrial Opportunity Partners

IOP, a private equity firm based in Evanston, Illinois, with committed capital of approximately $1.5 billion since inception, is dedicated to creating value by investing in value-added manufacturing and distribution businesses with revenues between $50 million and $500 million. IOP focuses on companies with a strong position in products, customers and the market, and provides management and operational resources to support sales and profit growth in their businesses. For more information, visit the IOP website at www.iopfund.com.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20220429005038/ar/

Contacts

Deep Johnson
Business Support Specialist
Raven Engineered Films
Deb.Johnson@ravenind.com
(605) 731-0906

Leave a Comment

Your email address will not be published.