Philadelphia-based private equity firm Larsen MacColl has acquired S. Walter Packaging. NewSpring Mezzanine, the dedicated mezzanine fund of NewSpring Capital, made a $6.2 million investment in S. Walter Packaging as part of Larsen MacColl’s acquisition.
S. Walter Packaging (“S. Walter”) designs, sources and delivers packaging used by retailers across North America. The company holds strong positions in certain specialty and industrial packaging markets such as college bookstores and sewn-products industries. S. Walter’s products include thousands of varieties of shopping bags, gift boxes, gift wrap and other packaging accessories. The company was founded in 1904 by Simon Walter and is headquartered in Philadelphia (www.swalter.com).
Larsen MacColl invests in companies with $5 million to $40 million in revenue. Sectors of interest include transportation and logistics, specialty manufacturing and distribution, consumer products and business services. Larsen MacColl is investing out of its second committed fund. The firm is headquartered in Radnor, PA (www.larsenmaccoll.com).
“We are thrilled to partner with Larsen MacColl in the acquisition of S. Walter Packaging. We are also excited to be working again with S. Walter’s newly appointed CEO, Kurt Koloseike. This is the second NewSpring portfolio company Kurt has led and we are confident that his experience and know-how, coupled with the companies’ seasoned management and dominant position in the packaging market, will drive terrific results for our investors,” said Anne Vazquez, a NewSpring Principal.
NewSpring Capital is a provider of private equity capital through a family of funds including NewSpring Ventures, NewSpring Health, and NewSpring Mezzanine . NewSpring Mezzanine provides mezzanine capital for expansion stage and buy-out opportunities for Mid-Atlantic based companies that are active in the business services, health care, information technology, and specialty manufacturing sectors. The firm has offices in Radnor, PA; Short Hills, NJ; and Washington, DC (www.newspringcapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 9-18-14