Drew Foam Companies Inc, a portfolio company of Branford Castle Partners LP, has acquired Davis Core & Pad from Joel Davis. Financial terms weren’t announced. Davis Core, of Cave Spring, Georgia, is an EPS foam shape molder. Davis Core’s packaging products are used in markets such as consumer perishables, IT products and office furniture.
Branford Castle Makes 13th Acquisition for Late 2016 Vintage Fund
New York, November 20, 2019 – Branford Castle Partners, LP, a New York City-based private equity firm, today announced that its portfolio company, Drew Foam Companies, Inc., has acquired Davis Core & Pad from Joel Davis. This is the 13th transaction for Branford’s fund, which closed in late 2016.
Based in Cave Spring, GA, Davis Core is an EPS foam shape molder. The Company’s packaging products are used in a wide variety of end-markets including consumer perishables, IT products and office furniture. Davis Core was founded by owner/operator Joel Davis over 40 years ago.
“Drew Foam has achieved strong growth since Branford Castle invested in the Company a year and a half ago. The acquisition of Davis Core further strengthens the Company’s leadership position in the Southeast and allows us to augment our capabilities in the shape molding segment of the EPS market” said Laurence Lederer, Senior Managing Director at Branford Castle.
“I have known Joel Davis and done business with his company for many years. We are excited to have Davis Core join us. Davis Core allows us to expand our geographic reach and enhances our product offering,” said Drew Foam CEO, Bill Givens.
Branford Castle was advised by its legal counsel, Akerman LLP. Terms of the transaction were not disclosed.
About Branford Castle Partners (http://www.branfordcastle.com/)
Branford Castle is a private market investor focusing on lower-middle-market investments, with a more than 30+ year history of helping to grow businesses. The firm typically makes control investments in companies with less than $15 million of EBITDA and a leadership position in a niche industry. Branford is particularly keen on the strong relationships it develops with its portfolio company managers. Branford has particular expertise in consumer products and services, commercial distribution, industrials/specialty manufacturing, business services and logistics.
About Drew Foam
Drew Foam, headquartered in Monticello, AR, is one of the Southeast’s leading custom expanded polystyrene foam (EPS) suppliers selling to the packaging and building products industries. The Company was founded over 50 years ago and has long-standing relationships among its 700 active customers. Drew has additional manufacturing facilities in Portland, TN and Anderson, SC and offers a differentiated “Just-In-Time” delivery platform to its customers.
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