Philadelphia-based retail packaging firm S. Walter Packaging has received $6.2 million in funding from NewSpring Capital. The funding is supporting Larsen MacColl‘s acquisition of S. Walter.
RADNOR, PA – September 18, 2014 – NewSpring Capital, a family of private equity funds providing growth and expansion capital, announced today that NewSpring Mezzanine (“NewSpring”), the dedicated mezzanine fund of NewSpring Capital, made a $6.2 million investment in S. Walter Packaging, Corp. (“S. Walter”). NewSpring partnered with Larsen MacColl Partners (“Larsen MacColl”) by providing the mezzanine financing as part of Larsen MacColl’s acquisition of S. Walter.
Headquartered in Philadelphia, PA, S. Walter designs, sources and delivers packaging solutions for leading retailers across North America, becoming the supplier of choice to more than 10,000 active customers. The Company holds strong positions in certain specialty and industrial packaging markets such as college bookstores and sewn-products industries.
Anne Vazquez, NewSpring Principal stated, “We are thrilled to partner with Larsen MacColl in the acquisition of S. Walter Packaging. We are also excited to be working again with newly appointed CEO, Kurt Koloseike. This is the second NewSpring portfolio company Kurt has led and we are confident that his experience and know-how, coupled with the Companies’ seasoned management and dominant position in the packaging market, will drive terrific results for our investors.”
“S. Walter is proud to take this important step with NewSpring Capital and Larson MacColl. Partnering with these two well respected firms provides a solid foundation for our future and ensures long-term stability for our customers and employees. We look forward to their support as we grow our business into the next generation,” says CEO, Kurt Koloseike.
About S. Walter Packaging
Founded in 1904 by prominent Philadelphia businessman, Simon Walter, S. Walter Packaging started off simple by focusing on kraft paper bags and wrappings. Today, S. Walter’s catalog contains thousands of varieties of shopping bags, gift boxes, gift wrap and other packaging accessories. The Company’s collection is the largest national inventory of in-stock packaging products. S. Walter Packaging has over 100 years of expertise and is highly equipped to provide the retail industry with creative packaging, innovative branding ideas, and timely distribution.
For more information, visit www.swalter.com.