New Water expands its footprint in US with acquisition of Norwood Paper and BulkSak

USA – New Water Capital, an operationally focused lower middle market private equity firm through its affiliate, has completed the acquisition of two packaging providers, Norwood Paper and BulkSak International.

The acquisitions become a part of New Water’s broader transportation packaging solutions platform which will now be the largest provider of specialty FIBCs and related packaging in North America.

The companies have not disclosed the financial terms and other details of these transactions.

The transactions mark the third and fourth add-on acquisitions completed by New Capital for its transportation packaging solutions platform.

These have further positioned New Water as one of North America’s largest providers of flexible intermediate bulk containers (FIBCs) and related packaging solutions.

New Water principal Matt Carlos said regarding these deals: “The additions of Norwood’s complementary products and BulkSak’s long-standing reputation as a premier provider of transportation packaging solutions makes the collective platform an even more valued partner to our customer base.

“These businesses, along with BulkLift and Bagwell, will be able to streamline procurement for our customers, while also improving quality, service, and product expertise.

“Both Norwood and BulkSak are exceptional brands operating for decades and have rightly earned their reputation as industry leaders.”

Headquartered in Chicago, Illinois, Norwood manufactures skid sheets, non-box related branded liners and other flat sheets to address the packaging requirements of various manufacturing industries and small businesses.

US-based BulkSak specializes in the production and distribution of different packaging products such as FIBCs, liners, reusable plastic transportation pallets, dunnage bags, and other polypropylene-based products.

Prior to Norwood and BulkSak, New Water also acquired Bulk Lift in November last year. This was followed by the acquisition of Bagwell Supply, a Canadian company that offers FIBCs, small industrial bags, and complementary packaging solutions.

Bagwell Supply operates two facilities in Canada, one in Richmond, British Columbia, and one in Mississauga, Ontario.

In August of the same year, New Water acquired the US bakery business Klosterman Baking Company, expanding its presence in the manufactured food sector.

New Water vice president, Nick LaRosa, at the time, said: “Through our partnership with management, Klosterman will look to expand the company’s product portfolio and geographic distribution footprint to better serve our growing customer base through a combination of organic and inorganic growth levers.”

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