GenNx360 Capital Partners has partnered with the management team of Schneider Packaging Equipment Company, a manufacturer of case packing and robotic palletizing machines, and made an investment in the company.
Schneider’s equipment is used by companies that are active in the food and beverage, dairy, pharmaceutical, personal care, plastics, and paper sectors. Since the company’s founding in 1970, Schneider has manufactured, installed and now services (including providing aftermarket parts) to more than 3,500 machines. The company has 135 employees and is headquartered near Syracuse in Brewerton, NY (www.schneiderequip.com).
In July 2018, the Schneider family sold the company to members of its senior management team including CEO Bob Brotzki; EVP Greg Masingill and SVP Mike Smith. At that time, former CEO and owner Rick Schneider (son of the founder) remained with the company as a special consultant. “As we advance into our next phase of growth, we are pleased to welcome GenNx360 as our partner in what marks an important milestone in Schneider’s evolution. With deep-rooted operational experience and a strong background in manufacturing, the GenNx360 team brings the expertise that will undoubtedly help us achieve our growth strategy,” said Mr. Brotzki.
“Schneider is an exciting company with a best-in-class reputation participating in a market that GenNx360 finds very attractive,” said Monty Yort, a managing partner of GenNx360. “The company’s reputation is centered around an impressive management team that has established a culture of exceptional customer service, innovation and industry-leading quality. We look forward to working with the management team to pursue an exciting organic and inorganic growth strategy.”
GenNx360 invests equity of $25 million to $75 million in companies that have revenues from $75 million to $250 million and EBITDA from $8 million to $25 million. Typical transaction sizes range from $50 million to $200 million. Target industries include industrial machinery and components, logistics, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York (www.gennx360.com).
Harvey & Company, a Newport Beach, CA-based buyside transaction advisor and investor, co-invested alongside GenNx360. The firm has advised and invested in numerous packaging transactions since its founding in 1998. Harvey & Company will be active post-closing supporting Schneider and GenNx360 with add-on acquisitions.
© 2019 Private Equity Professional | September 16, 2019
