New Water Capital an operationally-focused lower middle market private equity firm, today announced that it has completed the acquisitions of Norwood Paper Inc. (“Norwood”) and BulkSak International (“BSI”). The acquisitions become a part of New Water’s broader transportation packaging solutions platform which will now be the largest provider of specialty FIBCs and related packaging in North America. Terms of the private transactions were not disclosed.

Norwood, headquartered in Chicago, IL, produces high quality, non-box related branded liners, skid sheets and other flat sheets for customers ranging from small businesses to Fortune 500 companies. Based in Chicago, Norwood is a second-generation, family-run business established in 1972 and possesses an extensive understanding of the manufacturing industry’s packaging needs.

BulkSak, headquartered in Gastonia, NC with a manufacturing facility in Malvern, AR, is a manufacturer and distributor of packaging products including FIBCs, specialty small bags, liners, dunnage bags, reusable plastic transportation pallets and other polypropylene-based products. Founded in 2007 and primarily serving the chemical and food industries, BulkSak’s broad range of product expertise allows the company to meet exacting customer needs.

“The additions of Norwood’s complementary products and BulkSak’s long standing reputation as a premier provider of transportation packaging solutions makes the collective platform an even more valued partner to our customer base. These businesses, along with BulkLift and Bagwell, will be able to streamline procurement for our customers, while also improving quality, service, and product expertise” said New Water Capital Principal Matt Carlos. “Both Norwood and BulkSak are exceptional brands operating for decades and have rightly earned their reputation as industry leaders.”

“These two acquisitions are a significant value-add for our customers as we continue to enhance our offerings of FIBCs and related packaging product solutions,” said Tony Famiano, CEO of Bulk Lift. “Since New Water’s investment we’ve made great strides in that direction, growing our product line, establishing diversified supply chain solutions and developing a deeper pool of technical expertise.”

These are the third and fourth add-on acquisitions for the transportation packaging solutions platform. Shortly following New Water’s acquisition of Bulk Lift in November of 2022, the firm acquired Bagwell Supply Ltd., a Canadian provider of FIBCs, small industrial bags and complementary packaging solutions, with facilities in Richmond, British Columbia, and Mississauga, Ontario.

 

Source:businesswire.com

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