New Water Capital acquires buys Bulk Lift and Bagwell Supply

The closing of these two acquisitions marks NWC's third platform investment and second add-on across New Water Capital Fund II.

  • The new, combined company will be positioned to better serve customers in the US, Canada and Mexico with a deeper pool of technical expertise, broader product line offerings and more diversified supply chain solutions
  • New Water Capital targets lower-middle market companies in the consumer products and industrial manufacturing and services sectors

New Water Capital has acquired St. Charles, Illinois-based Bulk Lift International and Richmond, British Columbia-based Bagwell Supply, both North American designers, manufacturers and value-added distributors of flexible intermediate bulk containers and complementary packaging products. No financial terms were disclosed.

The closing of these two acquisitions marks New Water’s third platform investment and second add-on across New Water Capital Fund II.

Bulk Lift was founded in 1978, while Bagwell was established in 1997. The new, combined company, with its expanded reach, will be positioned to better serve customers in the US, Canada and Mexico with a deeper pool of technical expertise, broader product line offerings and more diversified supply chain solutions.

“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, in a statement. “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.”

Based in Boca Raton, Florida, New Water Capital targets lower-middle market companies in the consumer products and industrial manufacturing and services sectors with revenues of $30 million to $300 million.

PricewaterhouseCoopers Corporate Finance served as financial advisor to Bulk Lift, while CIBC Mid-Market Investment Banking served as financial advisor to Bagwell.