New Water Capital Affiliate Completes Acquisitions of Norwood Paper and BulkSak

Transportation Packaging Solutions Platform Expands with Strategic Acquisitions

The transportation packaging industry is experiencing a significant transformation as New Water Capital, an operationally-focused lower middle market private equity firm, completes the acquisitions of Norwood Paper Inc. and BulkSak International. These acquisitions will enhance New Water's transportation packaging solutions platform, making it the largest provider of specialty FIBCs and related packaging in North America.

Norwood Paper, based in Chicago, IL, is a second-generation, family-run business established in 1972. They specialize in producing high-quality non-box related branded liners, skid sheets, and other flat sheets for a wide range of customers, from small businesses to Fortune 500 companies. Their extensive understanding of the manufacturing industry's packaging needs has made them a trusted partner in the market.

BulkSak International, headquartered in Gastonia, NC, 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. With a manufacturing facility in Malvern, AR, BulkSak primarily serves the chemical and food industries. Their broad range of product expertise enables them to meet the exacting needs of their customers.

By acquiring Norwood Paper and BulkSak International, New Water Capital aims to strengthen its transportation packaging solutions platform and provide an even more comprehensive range of products and services to its customer base. These acquisitions complement the existing businesses of Bulk Lift and Bagwell, enabling New Water Capital to streamline procurement and improve quality, service, and product expertise.

Matt Carlos, Principal at New Water Capital, emphasizes the value that Norwood Paper and BulkSak International bring to the collective platform. He believes that their exceptional brands and industry leadership will further enhance New Water Capital's reputation as a trusted partner in the transportation packaging industry.

Tony Famiano, CEO of Bulk Lift, highlights the significance of these acquisitions in expanding their offerings of FIBCs and related packaging solutions. He mentions that since New Water's investment, they have made great strides in growing their product line, establishing diversified supply chain solutions, and developing a deeper pool of technical expertise.

These acquisitions mark the third and fourth add-on acquisitions for New Water Capital's transportation packaging solutions platform. Following the acquisition of Bulk Lift in November 2022, the firm acquired Bagwell Supply Ltd., a Canadian provider of FIBCs, small industrial bags, and complementary packaging solutions.

New Water Capital L.P., the private equity firm behind these acquisitions, focuses on lower-middle market companies in the consumer products and industrial manufacturing and services sectors. With a collaborative transaction and operating model, they support companies in transition, leveraging their unique cultures and strengths. Their targeted revenue range is between $30 million and $300 million.

In conclusion, New Water Capital's acquisition of Norwood Paper Inc. and BulkSak International strengthens their transportation packaging solutions platform and positions them as the largest provider of specialty FIBCs and related packaging in North America. The addition of Norwood's complementary products and BulkSak's long-standing reputation further enhances their value proposition to customers. With these strategic acquisitions, New Water Capital continues to solidify its position as a leader in the transportation packaging industry.