Kent Road Capital has formed a new platform company, Bloor Street Flexibles, and completed its first acquisition in the North American flexible packaging market.
The Toronto-based private equity company stated that Bloor Street Flexibles has been set up as a dedicated platform focused on flexible packaging.
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The firm’s debut deal is the purchase of a manufacturer of sustainable flexible films supplying customers in the food and beverage, agriculture and industrial sectors across the US and Canada.
Financial details of the deal were not disclosed.
Bloor Street Flexibles has been established in association with Dave Timm, a senior industry executive with more than 30 years of experience in flexible packaging.
Timm, who has held senior leadership positions at Charter Next Generation and Pregis, will be a key strategic partner to the new platform.
Kent Road Capital announced that the new platform forms part of its strategy to enter the North American flexible packaging market, with a focus on acquiring manufacturers of speciality films and sustainable packaging solutions.
Kent Road Capital secured legal advice on the transaction from Torys and Lavery, while Portage Point Partners was the financial adviser.
Kent Road Capital invests in businesses in the industrials and services sectors.
Kent Road Capital managing partner David Mansell stated: “We are thrilled to launch Bloor Street Flexibles and to partner with Dave Timm, whose expertise and reputation in the industry is first class.
“The flexible packaging industry is at an inflection point, with customers increasingly demanding sustainable, high-performance solutions.
“By combining Dave’s operational vision with Kent Road’s patient capital and strategic resources, we are building a premier platform capable of delivering exceptional value to customers.”
