US-based private equity company Crestview Partners has acquired Smyth Companies, a flexible packaging solutions provider, from Novacap for an undisclosed amount.
Based in Eagan, Minnesota, US, Smyth supplies labels and packaging solutions, including pressure-sensitive labels, shrink sleeves, and flexible packaging, focusing on the household, food, health and beauty, and automotive aftermarket sectors.
Crestview is investing along with Smyth's founding family and the existing management team, headed by president and CEO Scott Fisher, who will remain at the helm of the company.
Fisher said: “We are excited to welcome Crestview as our partner for this next phase of Smyth's evolution.
“Our focus remains on delivering excellent product quality and reliable service to our customers, and we believe Crestview's highly complementary experience and enthusiastic support of Smyth's acquisition expansion strategy will help us become an even stronger value-added partner to our customers and achieve our full growth potential.”
As part of the deal, Crestview is providing additional equity to support organic growth, as well as mergers and acquisitions, aimed at boosting capabilities, scale, and diversification.
Meanwhile, Smyth is actively seeking both tuck-in and transformational acquisitions within the pressure-sensitive labels, shrink sleeve, in-mould labels, and flexible packaging markets.
Crestview partner and industrials co-head Bradford Williams said: “We believe Smyth holds a uniquely strong position within the broader prime labels market driven by its innovative, customer-first approach, comprehensive product portfolio, and reputation for exceptional product quality, which enable the company to flexibly serve leading consumer packaged goods customers at scale.
“Smyth's strong presence in attractive end-markets has allowed the company to experience a high degree of stability across economic cycles and positioned it well to capitalise on numerous secular tailwinds.
“These characteristics make our investment in Smyth highly consistent with Crestview's strategy of investing in market-leading businesses at exciting inflection points, and we are excited to partner with the Smyth management team to drive the company's next phase of growth.”
