M&A Deal Summary

KLH Capital and Plexus Capital Acquire Frankston Packaging

On November 1, 2019, private equity firms KLH Capital and Plexus Capital acquired packaging company Frankston Packaging

Acquisition Highlights
  • This is KLH Capital’s 3rd and Plexus Capital’s 1st transaction in the Packaging sector.
  • This is KLH Capital’s 57th and Plexus Capital’s 88th transaction in the United States.
  • This is KLH Capital’s 2nd and Plexus Capital’s 6th transaction in Texas.

M&A Deal Summary

Date 2019-11-01
Target Frankston Packaging
Sector Packaging
Buyer(s) KLH Capital
Plexus Capital
Deal Type Recapitalization

Target

Frankston Packaging

Frankston, Texas, United States
Frankston Packaging is a full-service manufacturer of custom and stock packaging solutions. The company makes custom and stock folding cartons, flexible packaging (e.g., pouches, shrink sleeves, overwraps), pressure sensitive labels, and corrugated boxes, among other products. Frankston Packaging was founded in 1957 and is based in Frankston, Texas.

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Buyer(S) 2

Buyer

KLH Capital

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

KLH Capital is a private investment firm focused on smaller company investments in a variety of growing industry sectors. KLH helps provide management teams with capital to facilitate recapitalizations, management buy-outs/buy-ins, family successions, and other ownership transitions. KLH generally pursues companies with $4 to $20 million in pre-tax earnings and will consider opportunities across the US. KLH will not invest in start-ups, high technology, software, biotech, restaurants, retail, real estate development, oil and gas operations, or new construction businesses. KLH Capital is based in Tampa, Florida.


DEAL STATS #
Overall 57 of 68
Sector: Packaging M&A 3 of 3
Type: Recapitalization M&A Deals 31 of 39
State: Texas M&A 2 of 7
Country: United States M&A 57 of 68
Year: 2019 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-01 ElectriCom

Paoli, Indiana, United States

ElectriCom is a provider of aerial, underground, wireless, and right-of-way installation and maintenance services to the telecommunications and utility industries across the United States. ElectriCom was founded in 1960 and is based in Paoli, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-02 United Uptime Services

Humble, Texas, United States

United Uptime Services is a provider of retail and commercial vehicle fueling facilities. United Uptime Services provides service, equipment, installation, and environmental services. United Uptime Services was founded in 2015 and is based in Humble, Texas.

Buy -
Buyer

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 88 of 149
Sector: Packaging M&A 1 of 2
Type: Recapitalization M&A Deals 26 of 29
State: Texas M&A 6 of 11
Country: United States M&A 88 of 149
Year: 2019 M&A 16 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-04 Sunrise Landscape

Tampa, Florida, United States

Sunrise Landscaping is a provider of commercial landscaping services, including installation, maintenance, irrigation installation, irrigation maintenance, and weed & pest control services. The company services a variety of commercial clients including developers, property owners, and community associations. Sunrise Landscaping was founded in 1978 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-18 Legacy-Xspire

Ridgeland, Mississippi, United States

Legacy-Xspire market and distribute niche branded and generic prescription products to physicians, pharmacies, wholesale distributors, and specialty pharmaceutical distributors across the United States. Legacy-Xspire’s product portfolio consists primarily of therapies for pain management and steroid-responsive disease states. Legacy-Xspire is based in Ridgeland, Mississippi.

Buy -