Salt Creek Capital has acquired Pacific Paper, a provider of paperboard sheets to packaging and commercial printing customers. Salt Creek partnered with William Donahue, a paper industry executive, on this acquisition.
Pacific Paper converts and markets custom size sheets of various grades of paperboard to folding carton manufacturers and commercial printers throughout Southern California. The company was founded by Joe Gulstine and is based east of Los Angeles in Rancho Cucamonga, CA (www.pacificpaper.com).
“Pacific Paper is a well-established market leader, and we are delighted to partner with Bill to position the company for continued success. We are impressed with the company Joe has built and appreciate his support in completing the transaction,” said Dan Phelps, Salt Creek’s Managing Director.
Salt Creek invests in executive-led buyouts of companies with up to $100 million in revenue and EBITDA from $750,000 to $5 million. Sectors of interest are varied making the firm nearly industry agnostic but areas of specific interest include manufacturing, business and consumer services, distribution, and franchisors. The firm is based in Menlo Park (www.saltcreekcap.com).
“We have acquired an outstanding company whose solid history of growth is based on an unwavering commitment to quality and customer service,” said Mr. Donahue, who will serve as the new CEO of the company. “I am excited to join Pacific Paper and look forward to working with our employees to continue creating value for our diverse customer base. Supporting our efforts will be the expertise and resources of Salt Creek Capital, who specializes in helping companies like ours reach their full potential.”
Mr. Donahue has 30 years of experience in the paper industry. He was most recently the president of The Paper Tigers, a distributor of pulp and paper products to the packaging industry. Prior to The Paper Tigers, he was with Georgia-Pacific from 2003 to 2012 and International Paper from 1997 to 2003 in a number of senior executive positions.
“I am proud of the Pacific Paper team and the strong reputation the company has earned. With Bill’s 30 years of industry experience, I am confident in his ability to lead Pacific Paper in its next phase of growth,” said Mr. Gulstine. “As a retiring owner, my confidence in the next generation of leadership to continue serving our customers and providing for our employees was crucial to the transaction.”
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