Charter Oak Equity and Fonds de solidarité FTQ have announced the recapitalization of Licaplast Industries – Emballages.
Licaplast is a vertically-integrated producer of flexible plastic packaging, including shrink film, laminated roll stock and pouches, for food and beverage customers in the US and Canada.
The Company extrudes its own film for printing and also features add-on laminating and slitting capabilities. Led by Joseph Nawar, Licaplast has been producing flexible films for packaging, printing, and specialty applications since 1988 and recently made investments to double production capacity at its Montreal facility.
Charter Oak managing partner Zubin Avari said: “The management team has built an outstanding reputation based on manufacturing excellence and superior customer service. We look forward to working with Joseph and the rest of the team.”
Charter Oak managing partner Paul Roughan said: “We are excited about this platform investment and will be actively looking for add-ons in this space.”
Licaplast CEO Joseph Nawar said: “Licaplast’s unique value proposition and its dedication to quality have yielded strong growth in recent years, particularly since the installation of our new extruder. The Company is committed to delivering superior products and services to our customers, an objective this recapitalization will help augment.”
Fonds de solidarité FTQ private equity, investments senior vice-president Jean Wilhelmy said: “Licaplast’s effort to use recycled plastics, as well as the reuse of production waste, testify to the company’s commitment to develop and manufacture environmentally sustainable packaging products. Today, such an approach is essential to meeting the needs of the agri-food sector.”
Headquartered in Montreal, Licaplast is a vertically-integrated producer of flexible plastic packaging, including shrink film, laminated roll stock and pouches, for food and beverage customers in the US and Canada. Founded in 1988, the Company serves a diverse set of customers by leveraging best in class operations, product development and customer service capabilities.
Source: Company Press Release