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Raven Engineered Films, based in Sioux Falls, S.D., has been acquired by Industrial Opportunity Partners (IOP) from CNH Industrial (NYSE: CNHI). The acquisition aims to enhance technological advancements in polymer film and sheeting solutions. Scott Wickersham will continue as CEO under IOP's ownership, focusing on product innovation and value creation for customers. IOP stated it will provide the necessary resources to support Raven's future growth and success.
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Acquisition by IOP is expected to foster product innovation and growth.
The partnership provides additional resources for operational enhancement.
Raven Engineered Films has a strong reputation for reliability and quality.
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Partnership allows company to further develop and innovate technological advancements in polymer film and sheeting solutions in Sioux Falls
SIOUX FALLS, S.D.--(BUSINESS WIRE)--
Today, Sioux Falls-based Raven Engineered Films announced that Industrial Opportunity Partners (“IOP”) has acquired the business from CNH Industrial N.V. (NYSE: CNHI / MI: CNHI). IOP is an operations-focused private equity firm based in Evanston, Illinois.
Scott Wickersham, president and general manager of Raven Engineered Films, will assume the position of CEO under new ownership.
“The acquisition by IOP represents a new chapter for Raven Engineered Films that will benefit our team members and our communities,” said Wickersham. “We believe IOP will enable us to unlock the next levels of growth by innovating new products and creating value for our customers.”
Raven Engineered Films is an innovator in developing and manufacturing lighter, thinner, stronger polymer film and sheeting solutions to help solve application and product challenges across the globe. A former business unit of Raven Industries, Inc., a U.S.-based leader in precision agriculture technology which was acquired by CNH Industrial N.V. in November 2021, Raven Engineered Films produces all HydraLine™ products from its centrally located facility in Sioux Falls, providing for two-day shipments across the nation with quick order and delivery timelines.
“IOP is excited to have this partnership and provide the resources to support a future of growth and success,” said Dave Mackin of IOP. “The Engineered Films Division of Raven has been an industry leader and known for their innovation, reliability, and quality. We are confident that this partnership will help propel the company to new heights.”
About Raven Engineered Films
Raven Engineered Films, Inc. has established a well-known reputation for manufacturing and supplying high performance flexible films and sheeting to major markets throughout the United States and abroad. As a U.S. manufacturer committed to producing essential film and sheeting to protect Earth's resources, Raven Engineered Films is dedicated to developing custom solutions that solve precise application challenges — integrating sustainable environmental design practices for long-range 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. Driven by its purpose of Breaking New Ground, which centers 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° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment delivering a full lineup of construction products that make the industry more productive. Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH Industrial’s 37,000+ employees form 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, an Evanston, Ill.-based private equity firm with approximately $1.5 billion of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with revenue between $50 million and $500 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.
