Secondary Buyout • Packaging

New Water Capital Acquires Bulk Lift International

On December 8, 2022, private equity firm New Water Capital acquired packaging company Bulk Lift International from Stone Arch Capital

Acquisition Context
  • This is New Water Capital’s 2nd transaction in the Packaging sector.
  • This is New Water Capital’s 14th transaction in the United States.
  • This is New Water Capital’s 1st transaction in Illinois.
Investment Fate
  • Bulk Lift International merged with another company in 2024.

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M&A Deal Summary

Date December 8, 2022
Target Bulk Lift International
Sector Packaging
Buyer(s) New Water Capital
Sellers(s) Stone Arch Capital
Deal Type Secondary Buyout
Advisor(s) PwC Corporate Finance (Financial)

Target Company

Bulk Lift International

St. Charles, Illinois, United States
Bulk Lift International is a manufacturer and supplier of customized flexible intermediate bulk containers, bulk bags, totes, small packaging, and dry bulk container liners serving the chemical, food, minerals, agriculture, waste, and pharmaceuticals markets. Bulk Lift International was founded in 1978 and is based in St. Charles, Illinois.
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Buyer Overview 1

Buyer

New Water Capital

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 406M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

New Water Capital is a private equity firm focused on special situation investments in the consumer products, retail, manufacturing, and services sectors. New Water seeks under performing companies, corporate carve-outs, turnarounds, as well as businesses in transition, either growth challenged or facing succession issues. New Water will consider opportunities throughout the US and Canada and seeks businesses with $30 to $300 million in revenue. New Water Capital was formed in 2014 and is based in Boca Raton, Florida.


Deal Context for Buyer #
Overall 16 of 20
Sector: Packaging 2 of 5
Type: Secondary Buyout 3 of 3
State: Illinois 1 of 3
Country: United States 14 of 18
Year: 2022 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-08 Bagwell Supply

Richmond, British Columbia, Canada

Bagwell Supply is a provider of FIBCs, small industrial bags and complementary packaging solutions, with facilities in Richmond, British Columbia, and Mississauga, Ontario. Bagwell Supply was founded in 1997 and is based in Richmond, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-02 BulkSak

Gastonia, North Carolina, United States

BulkSak 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. BulkSak was founded in 2007 and is based in Gastonia, North Carolina.

Buy -

Seller Profile 1

SELLER

Stone Arch Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 259M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stone Arch Capital is a private equity firm focused on lower middle market companies operating in the Midwest US. The firm pursues established companies valued from $25 to $125 million with EBITDA between $5 and $30 million. Target companies generally have 'protectable market positions', strong management in place, diverse customer bases, and 'predictable capital intensity'. Stone Arch will consider opportunities in a wide variety of manufacturing and service industries, excluding real estate, technology, and commodity industries. Typical equity investment range between $10 and $25 million. Stone Arch Capital was formed in 2003 and is based in Minneapolis, Minnesota.


Deal Context for Seller #
Overall 12 of 13
Sector: Packaging 1 of 1
Type: Secondary Buyout 7 of 7
State: Illinois 1 of 1
Country: United States 11 of 12
Year: 2022 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-08 Lambent Lighting

Burbank, California, United States

Lambent Lighting is a holding company created to own and operate premier lighting companies within the rapidly growing LED lighting space. Lambent Lighting is based in Burbank, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-01 EIMCo

Farley, Iowa, United States

EIMCo is a manufacturer of metal components and assembled products predominantly used in agricultural, industrial, housing, heavy construction, and food processing applications. EIMCo was founded in 1992 and is based in Farley, Iowa.

Sell -