08 Dec New Water Capital Fund II Completes 5 Acquisitions in 13 Months with Purchase of 2 FIBC Providers Bulk Lift and Bagwell
Private equity firm New Water Capital (NWC) announced today an investment in the flexible intermediate bulk container (FIBC) sector, with the acquisition of Bulk Lift International LLC (Bulk Lift) and Bagwell Supply Ltd. (Bagwell) – two North American designers, manufacturers and value-added distributors of FIBCs and complementary packaging products. The transactions in November 2022 create one of North America’s largest FIBC providers, company officials said, primarily serving customers in the food and beverage, chemical, pharmaceutical, minerals, and construction products industries. The closing of these two acquisitions marks NWC’s third platform investment and second add-on across New Water Capital Fund II.
Founded in 1978 as a pioneering manufacturer and distributor of high-end and premium FIBCs, Bulk Lift has deepened its capability and expertise in its core of FIBC solutions and grown its offering to include a robust suite of complementary packaging solutions, including pallets, stretch films and liners. The company has also expanded its manufacturing operations to a state-of-the art facility in Nuevo Laredo, Mexico, and developed a mature international supply chain complete with local quality control presence to assure product quality. The company is headquartered in St. Charles, Illinois, with distribution locations across the United States.
Bagwell, established in 1997, is a recognized Canadian provider of FIBCs, small industrial bags and complementary packaging solutions, with facilities in Richmond, British Columbia, and Mississauga, Ontario.
Company principals say the new, combined company, with its expanded reach, will be positioned to better serve customers in the U.S., Canada and Mexico with a deeper pool of technical expertise, broader product line offerings and more diversified supply chain solutions.
“Our company has built a reputation for quality, flexibility and supply-chain reliability that has made us the preferred supplier to a growing number of high-end industrial customers,” said Bulk Lift CEO Tony Famiano. “With the expanded footprint of the new company and New Water’s financial and operational support, we are ideally positioned to both grow our customer base and better serve our existing customers as their product and service needs evolve in a rapidly changing marketplace.”
“New Water is delighted to partner with two established players in the North American FIBC market. The combined investment marks the third platform for our firm’s second fund,” said New Water Capital Principal Matt Carlos. “The combination of these two companies creates a market leader that is uniquely focused on serving the most demanding end markets that will be resilient in the face of a dynamic economic environment.”
PricewaterhouseCoopers Corporate Finance LLC served as the exclusive financial advisor to Bulk Lift, and CIBC Mid-Market Investment Banking served as the exclusive financial advisor to Bagwell.
About New Water Capital L.P.
New Water Capital L.P. is a private equity firm focused on lower-middle market companies in the consumer products and industrial manufacturing and services sectors with revenues of $30 million to $300 million. New Water Capital’s collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths. For more information, please visit www.newwatercap.com.
About Bulk Lift International LLC
Bulk Lift is a designer, producer and distributor of flexible intermediate bulk containers (FIBCs) and complementary packaging solutions, headquartered in St. Charles, Illinois, with a state-of-the-art manufacturing facility in Nuevo Laredo, Mexico. Since 1978, Bulk Lift has established a reputation for top quality and flexibility, using deep technical expertise to develop custom products designed to help reduce our customers’ total packaging costs. For more information, please visit Bulklift.com.
About Bagwell Supply Ltd.
Founded in Vancouver in 1997, Bagwell has over two decades of experience providing quality bulk bags and packaging solutions. With facilities conveniently located in Vancouver and the Greater Toronto Area, Bagwell serves a wide range of industries in Canada and the U.S. with innovative and high-quality container and packaging products. For more information, please visit Bagwell.ca.