LFM Capital has acquired a new platform with the buy of SureKap, a manufacturer of packaging machinery.
SureKap’s machines include cappers, conveyors, tables, and fillers that are used in the food and beverage, pharmaceuticals, nutraceuticals, and cosmetics sectors. SureKap’s customers include, among many others, Bayer, Burt’s Bees, Armstrong Flooring, Rochester Midland and Dunn-Edwards Paints.
In addition to its packaging machinery, SureKap also provides replacement parts, and maintenance and repair services. SureKap was founded in 1987 by President Greg Raines and is headquartered 55 miles northeast of Atlanta in Winder, Georgia.
“We are extremely proud of our established reputation for honesty, quality and reliability which has solidified our deep, long-standing customer relationships,” said Mr. Raines. “To that end, we are thrilled to work with LFM given their strong partnership approach and emphasis on maintaining company culture and values. We intend to leverage LFM’s operational expertise and expansive manufacturing network to grow our team, capacity and capabilities.”
“We are excited about the opportunity to partner with the entire SureKap team,” said Dan Shockley, a managing director at LFM. “Greg has done an outstanding job over the past 30+ years developing SureKap into a leading source for high quality packaging equipment. Moreover, we believe the company is very well-positioned to benefit from the adoption of automation across the highly fragmented United States packaging industry and look forward to supporting the team in this next phase of growth.”
“SureKap truly differentiates itself from other packaging machinery manufacturers through its proprietary machinery, extensive product library, and best-in-class engineering support,” said Conner Harris, a managing director at LFM. “Greg has built a business with a unique value proposition, and we are excited to further invest in the company’s technology and team to continue driving that value proposition.”
In addition to Mr. Shockley and Mr. Harris, LFM’s SureKap transaction team included Associate Jack Jeffrey and Business Development Associate Ryan Richardson.
LFM invests in United States-based manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values from $15 million to $125 million. LFM was formed in May 2014 by Steve Cook, Rick Reisner, and Dan Shockley and is headquartered in Nashville.
© 2022 Private Equity Professional | January 13, 2022