Fulcrum Capital Partners has made an investment in Belvika Trade & Packaging, a provider of outsourced packaging services.
Belvika provides primary packaging, secondary packaging, and merchandising services primarily to consumer packaged goods companies operating in the confectionery and snack foods end markets. Customers of the company include Nestle, Hershey’s, Mars, Mondelez, Kraft, and Costco.
Belvika’s co-packing facilities total 250,000 square feet and the company also manages embedded operations in some of its customer’s warehouses. Belvika was founded in 1993 and is headquartered near Toronto in Mississauga, Ontario.
Post-closing, the business will continue to be led by its existing management team in partnership with Fulcrum.
“Belvika is proud to partner with Fulcrum,” said Mario Golias, the president of Belvika. “The partnership with Fulcrum complements our culture and will help accelerate the execution of our growth strategy. We look forward to working alongside Fulcrum as we expand on Belvika’s industry-leading position and continue to satisfy the needs of both current and prospective customers.”
“We are thrilled to invest in Belvika,” said Paul Eldridge, a partner at Fulcrum. “The company’s track record of growth and stellar reputation has been fueled by a culture dedicated to the highest levels of customer service. Fulcrum is committed to supporting the Belvika team as the company executes on its multiple growth opportunities.”
The investment in Belvika is Fulcrum’s eleventh platform investment through its fifth fund, Fulcrum Capital Partners Fund V LP, which closed in June 2015 with C$350 million of committed capital. The fund’s prior acquisition was the September 2019 buy of Media Resources, an Oakville, Ontario-based provider of digital billboards and indoor signage, installation and maintenance, and large format and 3D printing services.
Vancouver and Toronto-based Fulcrum invests from C$15 million to C$35 million in companies that have enterprise values ranging from C$40 million to C$150 million. Sectors of interest include manufacturing, services, distribution and logistics, and consumer products. The firm was formed in 2011 as the successor to HSBC Capital when its management team acquired the private equity and mezzanine business of HSBC Bank Canada.
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Private Equity Professional | June 18, 2020