R.L. Hulett & Company (“RLH”) is pleased to announce that its client, Dedicated Converting Group, Inc. (“DCG” or the “Company”), has sold substantially all of its assets to Vidya Holdings (“Vidya”). In this transaction, RLH acted as exclusive financial advisor to the Company.

Dedicated Converting Group, Inc. is a Midwest-based converter of coverboard panels, foam padded panels, and other specialty paperboard products. The Company differentiates itself by its rapid response time, extensive product offering, and innovative features. With two manufacturing facilities in the Midwest, the Company is uniquely positioned to leverage its proximity to both customers and suppliers.  About the transaction, CEO John Skelton commented “We are pleased to announce our partnership with Anik Patel and his family and we look forward to this exciting new chapter for the employees and customers of DCG.  We thank the R.L. Hulett team for their efforts in helping to make this happen.”

Vidya is the investment vehicle for the Patel family. The principals of Vidya have a long track record of investing in packaging and printing related businesses. Vidya’s principals were formerly the owners and operators of Flexo Converters, Inc., which was acquired by Novolex in July 2021.

Anik Patel, Managing Partner of Vidya, said “We understand the operational, financial, and technological challenges that a business like Dedicated Converting faces as it accelerates growth and scale and are excited about partnering with management to take the business to the next level.”

R.L. Hulett & Company is a boutique investment bank in St. Louis, Missouri since 1981. In this transaction, RLH was retained by Dedicated Converting Group, Inc. as its exclusive advisor to explore strategic alternatives, including a potential sale of the business.  RLH facilitated a process by preparing marketing materials, contacting strategic and financial partners and advising the Company during negotiations with prospective partners.

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