The two acquired entities offer a wide variety of packaging supplies and equipment in the US
GenNx360 Capital has acquired B2B Industrial Packaging and AMW Packaging Supply. (Credit: Tumisu from Pixabay)
Private equity company GenNx360 Capital Partners has acquired two packaging companies B2B Industrial Packaging and American Machinery Works (AMW Packaging Supply) for an undisclosed sum.
Based in Addison of Illinois, B2B Industrial markets a range of packaging supplies and equipment such as strapping, stretch film, corrugated, and fasteners.
The company, which also offers tool repair services, has over 6,000 active clients across different end markets. It serves markets of Illinois, Texas, California, Oregon, Washington, and Kansas.
Based in Phoenix of Arizona, AMW Packaging Supply offers various packaging supplies and equipment in the Southwest US and Florida. The company also provides tool and equipment servicing and repair services.
Management of combined operations
Following the acquisition, B2B Industrial current president Bill Drake will act as CEO for the combined operations of B2B Industrial and AMW Packaging Supply.
AMW Packaging Supply current CEO Chuck Farguson will serve as president for west operations of B2B Industrial.
AMW Packaging Supply will continue operations from its current location in Phoenix.
B2B Industrial CEO Bill Drake said: “The complementary nature of B2B Industrial and AMW Packaging Supply’s service offerings will result in a partnership that provides clients with a more robust offering and enhances our growth potential.
“GenNx360’s operational expertise and track record of building platforms will be a tremendous asset to the management team as we undertake this next phase of rapid growth.”
GenNx360 vice president Rishi Verma said: “B2B Industrial and AMW Packaging Supply have been disruptors within the industrial packaging space, achieving outsized growth in an industry that GenNx360 believes to be very attractive.
“Both B2B Industrial and AMW Packaging Supply are led by impressive management teams who have built industry-leading businesses known for superior client service. We look forward to supporting Bill and Chuck in executing upon their growth strategy.”
In March this year, GenNx360 Capital completed the sale of its portfolio company, Midwest Can and Container Specialties.