US – American manufacturer of custom packaging solutions, Summit Plastics has completed the acquisition of Fredman Bag for an undisclosed sum.
Based in Wisconsin and founded in 1889, Fredman specializes in custom flexible packaging serving a diversified customer base and end-markets, including food & beverage, healthcare/medical, agriculture, industrial, and retail.
The firm operates a 50,000-square-foot facility with state-of-the-art printing and converting capabilities.
Tom Nathanson, Chairman of the Board of Summit said: “We are delighted to partner with Fredman. This transaction further expands our market reach and adds to our product capabilities.
“We welcome the talented employee base at Fredman and look forward to their contributions to the combined business.”
Given Summit’s recent acquisition of Fredman coupled with the ClearView Packaging transaction in 2021, Summit continues to broaden its geographic presence, expand its product offerings, and create a vertically integrated platform better able to serve customers across the packaging value chain.
Todd Romer, President of ClearView Packaging, a subsidiary of Summit, added: “We are very excited about the addition of the Fredman team.
“Fredman and ClearView are very similar; however, Fredman adds new capabilities that complement our current product offerings.
“We are also both multi-generational family businesses with a strong focus on our culture and employee base. This is an exciting partnership for Summit and will add tremendous value to our customers.”
According to Tim Fredman, President of Fredman Bag, the deal will enhance Fredman Bag’s ability to support its employees, customers and suppliers.
“We have known and respected the ClearView family for decades, and our employees are excited for the growth and opportunity as part of a larger platform,” noted Tim.
“The key to our partnership decision was people and culture, and we found a great fit in LVC, Summit and ClearView. We look forward to working together.”
Meanwhile, LongueVue Capital is a New Orleans-based equity investment firm focused on providing transformational growth capital to middle-market companies, drawing upon its successful 20+ year track record of partnering with entrepreneurs and management teams to drive value creation.
With over US$850 million of committed capital spanning four funds coupled with 150 years of combined operating and investing experience, the LVC team is an ideal partner for middle-market companies at inflection points and seeking to maximize value for all stakeholders.
LVC has made successful investments in a wide variety of industries including healthcare, life sciences, transportation and logistics, food and beverage, specialty packaging, consumer, and industrial services.
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