Acquisitions create a market leader in industrial packaging

This is a story about how PricewaterhouseCoopers Corporate Finance, LLC (“PwC Corporate Finance”) advised Bulk Lift International (“Bulk Lift” or the “Company”) on its sale to New Water Capital L.P. (“New Water Capital”).

Headquartered in St. Charles, Illinois, Bulk Lift International is a leading manufacturer and distributor of Flexible Intermediate Bulk Containers (“FIBC”) and complementary packaging products renowned by its customers for its leading facility certifications, expedient delivery, and differentiated “make or buy” sourcing strategy. Founded in 1978, Bulk Lift has developed and maintained long-standing relationships with blue-chip customers across the food, chemical, and materials end markets. The Company serves its customer base through a manufacturing facility in Nuevo Laredo, Mexico and six strategically-located, third party warehouses across the United States.

Bulk Lift’s owner, Stone Arch Capital, was looking to divest their interest in the industrial packaging company and brought in PwC Corporate Finance to assist.

PwC Corporate Finance was able to secure the mandate during a competitive bake-off process due to our long-standing relationship with Stone Arch Capital as well as our strong intelligence of recently completed North American FIBC transactions.

Once we were hired, PwC Corporate Finance acted as the lead advisor and assembled a multifunctional team of skilled specialists to assist Bulk Lift at every step of the process, providing hands-on support from the initial go-to-market preparation stage through negotiations and closing.

With the support of the PwC global network, PwC Corporate Finance conducted a global auction process which attracted multiple bidders, resulting in competitive tension. Following a two-phased process, New Water Capital, a Florida-based middle market private equity firm focused on investing in consumer products and industrial manufacturing and services sectors, was identified as the preferred acquirer and brought forward into exclusivity. The deal was signed within 11 weeks.

New Water Capital acquired Bulk Lift to create a platform within the FIBC space. The firm plans to pursue a buy and build strategy within the fragmented North American FIBC space to quickly scale the business.

This acquisition, along with New Water Capital’s simultaneous acquisition of Bagwell Supply Ltd, a Canadian distributor of FIBCs, small plastic and paper industrial bags, created one of North America’s largest FIBC providers. With the expanded footprint of the new combined company and New Water Capital’s financial and operational support, Bulk Lift plans to continue scaling in the North American market to better serve its customers.

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