NEW YORK, Aug. 13, 2014 /PRNewswire/ — Odyssey Investment Partners, LLC announced today that it has entered into an agreement to sell its portfolio company Ranpak Holdings, Inc., a leading provider of paper-based systems for the “in-the-box” protective packaging market, to investment funds affiliated with Rhone Capital L.L.C. Financial terms of the transaction were not disclosed.

The transaction, which is expected to be completed in the third quarter of 2014, is subject to customary closing conditions, including regulatory approvals.

About Ranpak
Founded in 1972, Ranpak manufactures paper-based systems for protective packaging needs including cushioning, void-fill and wrapping applications. The Company’s over 24,000 end-users include fulfillment and distribution centers and OEMs in North America, Europe and the Pacific Rim. Ranpak is headquartered in Concord Township, Ohio and has more than 430 employees worldwide.

About Odyssey Investment Partners
Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, is a leading middle-market private equity firm with approximately $4.0 billion under management. Odyssey Investment Partners, LLC primarily makes majority, controlled investments typically in established middle-market companies in a variety of industries. For further information about Odyssey Investment Partners, LLC, please visit http://www.odysseyinvestment.com.

About Rhone
Rhone, established in 1996, is a global private equity firm with a focus on investments in market leading businesses with a pan-European or transatlantic presence and expansion prospects. Rhone’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rhone has offices in London and New York and currently holds investments in a diversified portfolio of companies including investments in the business services, chemicals, consumer products, food, industrial, materials, mining, and shipping industries.

SOURCE Odyssey Investment Partners, LLC