Behrman Capital's Selig Sealing Products Acquires Unipac from Illinois Tool Works

NEW YORK--(Business Wire)--
Selig Sealing Products, Inc., a leading manufacturer of closure
lining materials, announced today that it has acquired the assets of
Unipac, a leading producer of foil and plastic innerseals for
packaging applications, from Illinois Tool Works Inc. (NYSE: ITW).
Selig Sealing Products is a portfolio company of Behrman Capital, a
New York and San Francisco-based private equity firm.

With operations in Canada and the United Kingdom, Unipac provides
a broad selection of highly-engineered laminated liners for food,
beverage, pharmaceutical, personal care, and other consumer and
industrial applications. Unipac's innerseals provide enhanced product
freshness and tamper-evidence to plastic containers. Unipac offers a
broad portfolio of proprietary products including Lift 'n' Peel(TM),
Aroma Peel(TM), Top-Tab(TM), and Safe-Gard(TM).

"Behrman Capital has proactively focused on the specialty
packaging sector for several years, and we are excited about Selig's
acquisition of Unipac, a highly regarded company well known for its
product innovation and quality," said Grant G. Behrman, Managing
Partner of Behrman Capital. "Unipac's operations are highly
complementary to those of Selig. Technology has driven substantial
developments in this sector, and as consumer product companies look
for new, innovative ways to protect the integrity of their products,
the combined company will be well positioned for continued growth."

"Unipac's product line, including its consumer-friendly Lift 'n'
Peel(TM) closure liner, will augment Selig's product and technology
offering, resulting in a combined company able to offer customers a
broad range of innovative, high quality solutions," said Steve
Cassidy, President and CEO of Selig Sealing Products. "In addition,
Unipac's operations in Canada and the UK will provide truly global
manufacturing, enhance our access to distribution channels, and
accelerate our growth. We are delighted to welcome the Unipac team to
Selig, and look forward to working with them to increase sales of
current product offerings and develop new technologies."

In conjunction with the acquisition, Selig has obtained a $125
million credit facility led by GE Commercial Finance with funds also
being provided by Madison Capital Funding LLC and BMO Capital Markets.
Robert W. Baird & Co. advised ITW on the divestiture of Unipac. BMO
Capital Markets acted as a financial advisor to Selig and Behrman
Capital. Goodwin Procter LLP provided legal advice to Selig and
Behrman Capital.

About Selig Sealing Products

Selig Sealing Products, Inc. is a leading manufacturer of
tamper-evident cap and closure lining materials. Selig's mission is to
provide its customers with high levels of responsiveness and
flexibility in serving and determining their packaging needs at levels
unmatched in the industry.

About Behrman Capital:

Based in New York City and San Francisco, Behrman Capital was
founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in
management buyouts, leveraged buildups and recapitalizations of
established growth businesses. The company's investments are primarily
focused in five industries: specialty manufacturing, outsourcing,
defense, health care and information technology. In addition to its
investment in Selig Sealing Products, Behrman Capital has two other
packaging businesses in its portfolio: Peacock Engineering (acquired
in January 2007), a leading provider of outsourced food packaging
services to many of the nation's major consumer products companies;
and Pelican Products (acquired in October 2004), a global leader in
the design, development and manufacture of unbreakable, watertight
protective cases and technically advanced professional flashlights.
Behrman Capital currently has a combined capital base in excess of
$2.0 billion. For more information, please visit www.behrmancap.com.

For Behrman Capital:
Kekst and Company
David Lilly / Michael Freitag, 212-521-4800

Copyright Business Wire 2008