Nicolet Capital Partners, LLC, a private equity firm in Chicago, IL, announced today that Nicolet Equity Fund III has successfully completed the acquisition of InterFlex Group, Inc. in partnership with the company’s existing management team. InterFlex, headquartered in Wilkesboro,
NC, is a leading independent converter of flexible packaging solutions. The acquisition represents Nicolet’s third active platform investment in the Plastics, Packaging and Specialty Converting segment. Nicolet has now completed six transactions in total in this segment over the past four years.
InterFlex operates five manufacturing locations in the U.S. and U.K. that offer an extensive range of value-added flexible packaging solutions to sophisticated global consumer product customers. The company’s converting capabilities include a fleet of modern 8/10 color flexographic presses at each facility along with coating, laminating and value-added pouch and bag making. As an independent converter with strong research, product development and process technology competencies, InterFlex has a track record of utilizing a wide range of substrates, coatings and other materials to develop innovative packaging systems that deliver superior performance and value. The company’s customers represent a diverse set of end markets including poultry, meat snacks, pet food,
baked goods and confectionary products.
Commenting on the company, Brett A. Snyder, President of Nicolet Capital stated, “InterFlex’s high quality converting equipment across multiple geographies combined with its ability to adapt different coatings, barrier technologies and packaging materials make it an ideal investment platform in this segment. This management team has been very thoughtful in strategically positioning InterFlex as a major packaging supplier to some of the most respected consumer product companies in the world. Growth will come from both acquisitions as well as internal investment in new equipment and technically oriented sales and marketing resources. We look forward to working with management to pursue opportunities to expand into new end markets and geographies in the U.S., U.K. and Europe. In addition, we will support InterFlex’s ongoing efforts to develop or acquire further unique converting capabilities and new packaging technologies that it will leverage across its strong customer base.”
Stephen Doyle, who will continue as a major shareholder and the Chief Executive Officer of InterFlex, added “Nicolet stepped up to the plate in a competitive sale process with a clear, organized proposal that was executed in a rapid and professional manner. The InterFlex management team is excited to partner with Nicolet Capital and looks forward to the financial support for the team’s acquisition and organic growth plans. InterFlex will now continue its program to target businesses and make investments that strengthens its position in its core segments and adds converting technology and manufacturing capability.”
Stephen Doyle, who will continue as a major shareholder and the Chief Executive Officer of InterFlex, added “Nicolet stepped up to the plate in a competitive sale process with a clear, organized proposal that was executed in a rapid and professional manner. The InterFlex management team is excited to partner with Nicolet Capital and looks forward to the financial support for the team’s acquisition and organic growth plans. InterFlex will now continue its program to target businesses and make investments that strengthens its position in its core segments and adds converting technology and manufacturing capability.”
Terms of the transaction were not disclosed although Mr. Snyder confirmed that InterFlex’s revenues are well in excess of $100 million. For more information on InterFlex, please visit their website at www.interflexgroup.com.
About Nicolet Capital Partners, LLC
Nicolet Capital Partners, LLC, located in Chicago, IL, is a private equity firm that makes both majority and minority equity investments in established businesses across a wide range of basic industries. The firm targets equity investments of $25 -75 million in companies with meaningful, distinct and sustainable competitive positions. In addition to its equity capital, Nicolet Capital can provide complete, committed debt financing for its transactions. For more information on Nicolet
Capital, please contact them at 847-563-5377 or visit their website at nicoletcap.wpenginepowered.com.
Comments are closed.