The Segerdahl Saga: How a Small Printing Company Became Part of ICE’s New Facility in Broadview

David Morgan

At first glance, the story of 1900 S. 25th Avenue in Broadview, Illinois, might seem like just another chapter in the annals of American industrial properties—a seemingly innocuous piece of real estate that has changed ownership over the years. But a closer examination reveals a dramatic narrative of corporate takeovers, employee betrayal, and private equity profiteering, culminating in one of the most contentious tenants imaginable: U.S. Immigration and Customs Enforcement (ICE).

From Employee-Owned to Private Equity Pawn

This saga begins in 1956 with the founding of The Segerdahl Corporation by Earl Segerdahl, a printing venture that would flourish for nearly sixty years. In 2014, Segerdahl boldly expanded its horizons by acquiring a competitor, Lehigh Direct, and its facility at 1900 S. 25th Ave. The acquisition cost $3.3 million—a striking deal for four acres of industrial land and 200,000 square feet of operational space.

A mere decade earlier, Segerdahl had pioneered a remarkable initiative in American business by implementing an Employee Stock Ownership Plan (ESOP), which granted workers partial ownership of the company. Employees earn equity over time, fostering a genuine investment in the company’s prosperity.
However, by 2016, the ethos of shared ownership had been obliterated. Segerdahl’s leadership chose to sell the company to the private equity firm ICV Partners, effectively dismantling the employee-owned model and handing over control to a profit-driven entity. Executives took the drastic step of shutting down the ESOP and buying out employees, severing their ties to any future profits.

Included in this contentious deal was the Broadview property. Shortly thereafter, the new management executed a sale-leaseback with AG Net Lease, an investment firm associated with Angelo Gordon & Co. This financial maneuver transformed the $3.3 million property into a $10 million transaction, described in court filings as a “$7 million arbitrage opportunity.” Former employees launched a lawsuit, asserting their rightful claim to their share of this windfall as former owners.
Ultimately, they secured a $5.9 million class-action settlement, although court documents suggested that over $100 million in value was siphoned away from employees and lined the executives’ pockets instead. Noteworthy figures in this saga—CEO Mary Lee Schneider (currently a member of the Board of Trustees at Penn State University) and CFO Marcus Bradshaw (now CFO of Vehicle Management Solutions)—reportedly reaped millions in additional compensation and stock under the new ownership . —

The Rise and Fall of SG360

Following the sale, Segerdahl rebranded as SG360, operating under private equity control. For several years, the company continued printing operations at the Broadview facility while making rent payments to AGNL Mail, LLC, a shell company registered at 245 Park Avenue, New York, NY, the same address as Angelo Gordon, a global investment management firm.

By 2023, Angelo Gordon itself had been acquired by TPG (Texas Pacific Group), one of the largest private equity firms in the world with more than $200 billion in assets under management. TPG’s vast portfolio includes stakes in Uber, Burger King, Spotify, J. Crew, Airbnb, DIRECTV, Chobani, and Petco. Meanwhile, SG360’s financial health deteriorated. By late 2024, the Broadview facility had been shuttered, and its equipment was liquidated at auction. That left Angelo Gordon, and by extension TPG, the owner of a massive, empty industrial building just outside Chicago.

From Printing Press to Prison

On October 5, 2025, conservative commentator Benny Johnson posted a YouTube video touting a “brand new 200,000-square-foot ICE processing facility.” The location was 1900 S. 25th Avenue, Broadview, Illinois.

Both public records and satellite imagery confirm that this site has undergone significant renovations, triggering urgent concerns about its future. Suppose the Department of Homeland Security has leased or purchased this property. In that case, it represents an exponential increase in ICE’s detention capacity in the Chicago area, effectively transforming it into what advocates have branded a long-term incarceration site where immigrants may be denied bail or due process.
The existing Broadview Detention Center, already infamous for overcrowding and harsh conditions bordering on the inhumane, has been the focal point of daily protests for years. Detainees, often facing no charges beyond their immigration status, rely heavily on family members to deliver essential items, such as medicine and food . Protesters have frequently clashed with law enforcement, with reports of tear gas, rubber bullets, and pepper-ball projectiles being employed to disperse crowds. One particularly alarming incident involved a 16-year-old boy who was reportedly struck by pepper balls while delivering clothing to his detained father. In this story, we witness the powerful dynamic of corporate interests and the stark realities faced by the most vulnerable. It serves as a compelling reminder of the complex and often tumultuous intersection of business, politics, and human rights.

In one documented incident, a 16-year-old boy attempting to deliver clothing to his detained father was allegedly struck by pepper balls while knocking at the facility’s door.

Follow the Money

The building at 1900 S. 25th has undergone a striking transformation through a series of acquisitions—transitioning from Lehigh Press to Segerdahl, then to ICV Partners, followed by AG Net Lease, and onto Angelo Gordon, before landing with TPG, one of the globe’s largest private equity firms.

Given that the Broadview facility now houses ICE, TPG and its investors stand to gain significantly from a system that unjustly incarcerates thousands of migrants under harsh and secretive conditions. While there is no direct evidence that companies like Uber, Spotify, or Airbnb actively support ICE’s detention practices, their shared ownership under TPG reveals a concerning reality. In a financial landscape dominated by a few powerful entities controlling most corporate assets, the lines between profit and complicity are increasingly blurred.

The Cost of Convenience

The Broadview facility exemplifies a widespread issue. Private equity firms methodically buy, flip, and consolidate companies, often with little regard for human or community welfare. The same financial networks profiting from ride-sharing, yogurt, and streaming services are now deeply intertwined with the expansion of immigrant detention infrastructure. These connections are intentionally obscured, buried in complex mergers, LLC registrations, and property deeds that few scrutinize. Yet, the impact is glaringly evident—families torn apart, protests stifled, and communities compelled to endure what some activists rightly label as “concentration camps in our own backyard.”

A Moral Test for TPG

TPG possesses not only the legal right but also the ethical responsibility to refuse leasing its property to ICE or DHS. The firm can choose to withdraw from this arrangement today, protecting its investors, partners, and portfolio brands from the stain of profiting from human suffering. As a titan in the financial realm, TPG’s decision will resonate far beyond any public relations campaign. It can either maintain the status quo or demonstrate that there remains space for moral accountability within the private equity sector. The choice is clear, and the time to act is now.