FOR IMMEDIATE RELEASE – February 6, 2023
Flexpak, LLC (“Flexpak”), a value-added distributor and supplier of packaging supplies, announced that it completed the acquisition of Preferred Packaging Products, Inc. (“Preferred” or the “Company”) on February 1, 2023. Preferred is a distributor of corrugated, custom foam, poly bags, wood crating, bubble, stretch wrap, tapes and labels. The Company is based in Thornton, Colorado, where it has been serving customers since 1985. Preferred specializes in custom packaging for high value products, and supports customers across diverse end markets including electronics, instrumentation, consumer products and healthcare. The combination of Flexpak and Preferred creates a premier regional platform serving Utah, Colorado, Arizona and Idaho.
“We are delighted to welcome Bob Abbott and the Preferred team into the Flexpak family. Preferred and Flexpak share similar cultures and take great pride in providing superior customer service and customized packaging solutions to our customers. We look forward to continued growth in Colorado and expanding the set of specialized capabilities offered to Preferred’s customers,” said Flexpak CEO, Brian Kellen.
Bob Abbott, President of Preferred added, “We are excited to join forces with Flexpak and Shorehill. They have a unique partnership that I found compelling. Their emphasis on culture, growth and partnership will benefit our customers, suppliers and employees.”
Flexpak’s acquisition of Preferred is consistent with its strategy to expand its geographic presence throughout the Mountain West region of the United States. The combination of Flexpak and Preferred immediately creates a leading packaging solutions provider with a high-quality sales team and expertise across a variety of end-markets. “We are excited to partner with the Preferred Packaging team to expand Flexpak into Colorado. Preferred is an impressive company with deep expertise in packaging design and customized solutions. Going forward, the combined company is well-positioned to continue to expand its capabilities and geographic presence through acquisitions and organic growth,” said Charlie Denison, Managing Director at Shorehill Capital. Flexpak and Shorehill partnered in 2021. Preferred Packaging represents the partnership’s second acquisition, having acquired ACE Packaging of AZ in July 2022.
The Shorehill team has been active in the packaging industry over the last two decades, having invested over $300 million in equity across twenty-one acquisitions. The team’s experience includes packaging distribution and manufacturing across a wide variety of substrates.
Terms of this transaction were not disclosed.
About Flexpak, LLC:
Flexpak is a value-added distributor and supplier of packaging supplies, including stock and custom corrugated boxes, polybags, stretch wrap, shrink film, foam, cushioning, mailers, and other related packaging supplies. The Company is headquartered in Woods Cross, Utah and primarily serves the healthcare, food and beverage, industrial, and consumer products industries across Utah, Idaho, Arizona and Colorado. The Company is led by its founder and CEO, Brian Kellen. Flexpak is a portfolio company of Shorehill Capital. For additional information, visit flexpak.net.
Flexpak is actively seeking acquisitions of value-added distributors and suppliers of packaging supplies and is interested in acquisition opportunities presented by business owners, management, or M&A intermediaries. Please contact Thomas Sigle or Charlie Denison regarding acquisition opportunities.
About Shorehill Capital LLC:
Shorehill Capital LLC is a Chicago-based private equity firm with a passion for creating superior companies. Shorehill is focused on making equity investments in North American engineered industrial products, industrial services, and value-added distribution companies with EBITDA between $3 million and $15 million and add-ons of any size. Shorehill seeks opportunities with differentiated business models where its experience, network and investment management approach can have a significant impact on the performance of the business. For nearly 30 years Shorehill’s partners have worked with middle market business leaders to accelerate growth and improve operational performance through structured investment management plans. For additional information, please visit www.ShorehillCapital.com.