M&A Deal Summary

Envoy Solutions Acquires Sunbelt Packaging

On July 27, 2022, Envoy Solutions acquired packaging company Sunbelt Packaging from Southpointe Ventures, Nancy Creek Capital Management, Kian Capital Partners and Tenth Street Capital

Acquisition Highlights
  • This is Envoy Solutions’ 2nd transaction in the Packaging sector.
  • This is Envoy Solutions’ 16th transaction in the United States.
  • This is Envoy Solutions’ 2nd transaction in South Carolina.

M&A Deal Summary

Date 2022-07-27
Target Sunbelt Packaging
Sector Packaging
Buyer(s) Envoy Solutions
Sellers(s) Southpointe Ventures
Nancy Creek Capital Management
Kian Capital Partners
Tenth Street Capital
Deal Type Add-on Acquisition

Target

Sunbelt Packaging

York, South Carolina, United States
Sunbelt Packaging is a provider of industrial packaging, strapping, and thread supplies and equipment. Sunbelt sells products to industrial and commercial end-users that manufacture, transport, or store products, in industries that include general manufacturing, food production, and mining. Sunbelt Packaging was founded in 1980 and is based in York, South Carolina.

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Buyer(S) 1

Buyer

Envoy Solutions

Glenview, Illinois, United States

Category Company
Sector Distribution
DESCRIPTION

Envoy Solutions is a diversified distribution company for janitorial supply, packaging solutions, and specialty products. Working to make buildings cleaner and more sustainable, people safer, and operations more productive, every day. Envoy Solutions is based in Glenview, Illinois.


DEAL STATS #
Overall 16 of 30
Sector (Packaging) 2 of 4
Type (Add-on Acquisition) 15 of 29
State (South Carolina) 2 of 2
Country (United States) 16 of 30
Year (2022) 8 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-22 Hughes Enterprises

Levittown, Pennsylvania, United States

Hughes Enterprises is a distributor of world-class packaging and equipment. Hughes Enterprises was founded in 1950 and is based in Levittown, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-02 Knight Marketing

Queens, New York, United States

Knight Marketing is a distributor solutions-driven company that provides a range of high-quality building cleaning supplies and sanitary products. Knight Marketing was founded in 1991 and is based in Queens, New York.

Buy -

Seller(S) 4

SELLER

Southpointe Ventures

Atlanta, Georgia, United States

Investor


Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Southpointe Ventures is a private equity group that targets smaller, established companies in the Southeast United States. Southpointe looks to invest in companies that allow for faster growth and higher return potential due to the company's lower overhead structure, market flexibility, and efficiency. The Firm focuses on companies with revenues of $5 to $50 million and EBITDA of $1 to $5 million. Southpointe will not invest in start-ups, turnarounds or real estate. Southpointe Ventures was founded in 2003 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 3 of 3
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (South Carolina) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 Door Kraft

Atlanta, Georgia, United States

Door Kraft is an importer and distributor of kitchen and bath cabinet components, primarily door and drawer fronts, face frames, and end panels. DoorKraft was founded in 2004 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-01 Tread

Roanoke, Vermont, United States

Tread is a designer and manufacturer of bulk handling and processing equipment for the explosives industry. Tread was founded in 1957 and is based in Roanoke, Vermont.

Buy -
SELLER

Nancy Creek Capital Management

Atlanta, Georgia, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 138M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Nancy Creek Capital (NCP) is a provider of equity and mezzanine capital to small and medium-sized companies throughout the Southeast US. NCP focuses profitable businesses with experienced management teams. The Firm targets companies with $10 to $100 million in sales and at least $1 million in EBITDA. NCP looks to invest $1 to $5 million per transaction (up to $10 million with co-investors). Areas of interest include manufacturing, healthcare, distribution, services, and technology. In addition to funding businesses, NCP also provides financing for real estate opportunities, including commercial, industrial, office, single and multi-family residential projects. The Firm will not invest in startups or turnaround situations. Nancy Creek Capital is a unit of The Branch-Shelton Company LLC. The Firm was formed in 2005 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 5 of 5
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (South Carolina) 1 of 1
Country (United States) 5 of 5
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-25 Gasko Fabricated Products

Middlefield, Ohio, United States

Gasko Fabricated Products Co. is a specialist in die-cutting nonmetallic materials with custom fabrication capabilities, Gasko offers a variety of products and processes that utilize a broad breadth of materials. Gasko Fabricated Products is based in Middlefield, Ohio.

Sell -
SELLER

Kian Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 825M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kian Capital Partners is a private equity firm focused on providing equity and junior capital to support growth, buyouts, shareholder liquidity needs, recapitalizations, divestitures, and refinancings of profitable lower middle-market companies with up to $150 million in revenue. Kian will consider opportunities throughout the US and seeks businesses operating in the business services, distribution, healthcare services, and niche manufacturing sectors. Kian Capital Partners was formed in 2011 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 9 of 11
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (South Carolina) 1 of 1
Country (United States) 9 of 11
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Automated Gate Services

Corona, California, United States

Automated Gate Services provides automated gate and security solutions, including emergency repair, planned maintenance, design, fabrication, access control and installation to residential and commercial customers across Southern California. Automated Gate Services was founded in 1998 and is based in Inglewood, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Riverside Oral Surgery

River Edge, New Jersey, United States

Riverside Oral Surgery currently operates multiple state-of-the-art surgical facilities across five counties in the state. Each of the practice's surgeons utilizes cutting-edge technology in digital imaging and scanning and offers a full spectrum of services, from wisdom teeth extractions, dental implants, to surgical management of oral cancer, to temporo-mandibular joint disorder and full reconstructive procedures. Riverside Oral Surgery was founded in 2007 and is based in River Edge, New Jersey.

Buy -
SELLER

Tenth Street Capital

Chattanooga, Tennessee, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tenth Street Capital is an independent investment firm that seeks to invest in lower middle-market companies operating in a broad range of industries. The Firm provides mezzanine and equity co-investments to profitable businesses with strong market positions and diverse customers. Areas of interest include manufacturing, distribution, and services. Investment proceeds are generally used to support acquisitions, buyouts, and recapitalizations. Tenth Street Capital was formed in 2005 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 21 of 21
Sector (Packaging) 3 of 3
Type (Add-on Acquisition) 9 of 9
State (South Carolina) 1 of 1
Country (United States) 21 of 21
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Tachyon

Roswell, Georgia, United States

Tachyon provides design, construction, optimization, and maintenance services for owners and operators of fiber and wireless network infrastructure. The Company's principal service markets include the Southeastern and Southwestern United States, with targeted customer programs in other regions. Tachyon was founded in 2007 and is based in Roswell, Georgia.

Sell -