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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.
cnh industrial is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. each of the individual brands belonging to the group is a major international force in its specific industrial sector: case ih, new holland agriculture and steyr for tractors and agricultural machinery; case and new holland construction for earth moving equipment; iveco for commercial vehicles; iveco bus and helieuz bus for buses and coaches; iveco astra for quarry and construction vehicles; magirus for firefighting vehicles; iveco defence vehicles for defence and civil protection; and fpt industrial for engines and transmissions. more information can be found on the corporate website: www.cnhindustrial.com for more information about careers at cnh industrial, please visit cnh industrial section on linkedin or careers section on the www.cnhindustrial.com website.
