WAYNE, Pa.--(BUSINESS WIRE)--Larsen MacColl Partners, LP (“Larsen MacColl”) is pleased to announce the acquisition of S. Walter Packaging Corp. (“S. Walter” or the “Company”). Financial terms of the transaction were not disclosed.
S. Walter designs, sources and delivers coordinated packaging solutions to branded consumer products companies and retailers. The Company sells to over 10,000 customers including well known global retailers as well as small and medium sized businesses across North America. With a focus on highly customized products, the Company provides its customers with thousands of options for shopping bags, boxes, tissue paper, wrapping paper, ribbons, bows and other packaging accessories.
Larsen MacColl also announced that Mr. Kurt Koloseike was named Chief Executive Officer of S. Walter. Mr. Koloseike was previously Chief Executive Officer of FlagZone, one of the largest flag and banner manufacturing businesses in the United States.
Satya Ponnuru, Partner of Larsen MacColl, said, “We are very excited to partner with Kurt Koloseike and the management team in the future of S. Walter. We look forward to building the leading company in the retail packaging industry by leveraging the Company’s strong market position, first-rate management team and unique design and global sourcing capabilities. We intend to aggressively grow the Company both organically and through acquisition.”
Mr. Koloseike added, “This is the beginning of an exciting new era for S. Walter. We will continue to enhance our leading design, operational, customer service and logistics capabilities to serve our national accounts and small and medium sized businesses. We have a strong balance sheet and the operational and financial resources needed to hire additional talent and pursue strategic acquisitions for long term growth. I look forward to leading a very talented and committed team into the future.”
Financing for the acquisition was provided by NewSpring Mezzanine and Wells Fargo Bank. Miller & Martin PLLC acted as legal counsel to Larsen MacColl.
About S. Walter Packaging Corp.
Founded in 1904 by prominent Philadelphia businessman, Simon Walter, S. Walter started off simple by focusing on kraft paper bags and wrappings. Today, S. Walter's catalog contains thousands of varieties of shopping bags, gift boxes, gift wrap and other packaging accessories. The Company's collection is the largest national inventory of in-stock packaging products. S. Walter has over 100 years of expertise and is highly equipped to provide the retail industry with creative packaging, innovative branding ideas, and timely distribution. For more information, please visit www.swalter.com.
About Larsen MacColl Partners
Larsen MacColl Partners (www.larsenmaccoll.com) is a private equity firm that invests in established and profitable companies with annual sales between $5 and $50 million, proven management teams and tangible growth opportunities. Larsen MacColl is investing out of its third committed fund.
