Private equity investment firm Brixey and Meyer Capital (BMC), along with its affiliated entities, has purchased US-based Patriot Converting for an undisclosed amount.
Established in 2003, Patriot offers custom paper converting and logistical solutions to customers in the paper packaging industry.
The company operates two converting facilities, including one each in Elk River, Minnesota; and Newton, Iowa. It has 63 employees working across the two facilities.
Following this deal, Patriot now intends to focus on expanding its business into new markets and service offerings through acquisitions and organic growth.
BMC managing director David Brixey said: “Patriot has proven to be a strategic partner to their customers, which we will strive to continue and expand under our partnership.”
Patriot Converting founder and CEO Brian Stilwell will retire from his role in the coming months.
The company’s executive vice-president Michael Stilwell will continue to serve in his role to lead the business going forward, as well as the co-owner of BMC.
Brian said: “Over the past 16 years, Patriot has set out to improve the paper converting gaps and capacity needs, and we began to solve those gaps with significant investments in sheeting, rewinding, warehousing, and logistical solutions.
“Optimising the supply chain has been our continual mission and we believe the partnership with Brixey and Meyer Capital will take us to the next level.”
The deal marks the second acquisition for BMC’s second fund, the BMC Growth Fund II.
In January, BMC acquired CityDash, which offers premier courier, trucking and logistics solutions to customers.