Industrial Opportunity Partners and Goldman Sachs AM to invest $114m in Transcendia.

Industrial Opportunity Partners, a private equity firm, and Goldman Sachs AM, an asset management services provider, agreed to invest $114m in Transcendia, a manufacturer and converter of custom engineered materials. "This transaction provides us with additional capital and financial flexibility to continue building upon the significant progress we have made on several transformational initiatives to improve our cost structure, optimize our facility footprint and grow our business. Our 2021 $40m expansion in our Hebron, Ohio facility increased our barrier film manufacturing capabilities for biopharmaceutical, food and beverage, and specialty industrial packaging, allowing us to expand into new markets and serve new customers. This investment is a vote of confidence in our Invest to Grow strategy, our capabilities and our team. We look forward to having the support and operating resources of IOP, in addition to continuing our partnership with Goldman Sachs Asset Management," John Bagnuolo, Transcendia President and CEO.