Shorehill Capital LLC announced the recapitalization of Flexpak, LLC in partnership with the company’s management team and Brian Kellen, founder and CEO of the company. The transaction closed on July 30.
Based in Woods Cross, Utah, Flexpak is a value-added distributor and supplier of packaging supplies, including stock and custom corrugated boxes, poly bags, stretch films, shrink films, foam, padding, wraps and other related packaging supplies. The company primarily serves the food, health, biotechnology, industrial, and consumer products sectors in Utah and Idaho.
Flexpak was founded in 2002 by Brian Kellen. Since then, Brian and Flexpak’s management and sales teams have led the company to rapid and profitable growth. Along with the recapitalization, Brian and several key members of the management team have a significant stake in the company. Brian will continue to lead Flexpak as President and CEO and as a member of the company’s board of directors.
“I am more than pleased to have found a partner who truly understands and values our business, our go-to-market strategy and our continued investments in our people and customers. My management team and I look forward to the next chapter of growth alongside the Shorehill team, ”said Brian Kellen.
The Shorehill team has extensive experience investing in value-added distribution companies, particularly in the packaging industry. Additionally, Shorehill has a proven track record of supporting businesses and entrepreneurs owned by founders like Brian Kellen. In 2019 and 2020, Shorehill was nominated for Inc. Magazine’s list of the 50 best private equity firms for entrepreneurs.
“Shorehill is thrilled to partner with Brian Kellen and the Flexpak leadership team to accelerate the pursuit of several attractive organic and inorganic growth opportunities. We look forward to a successful partnership with a dynamic team known for their first-rate customer service and innovative packaging solutions, ”said Charlie Denison, Managing Director of Shorehill.
Principal Alternative Credit, the direct lending team of Principal Global Investors, LLC and GMB Capital Partners funded the transaction. Katten Muchin Rosenman LLP was legal counsel to Shorehill. Terms of the transaction were not disclosed.
For more information visit www.Flexpak.net.
Shorehill Capital LLC is a Chicago-based private equity firm passionate about building top quality businesses. We focus on making control equity investments in industrial engineering products, industrial services and value-added distribution companies in North America with EBITDA between $ 3.0 million and $ 15 million. $ 0 million and additions of all sizes. Shorehill seeks opportunities with differentiated business models where our experience, network and approach to investment management can have a significant impact on business performance. For more information visitwww.ShorehillCapital.com.