Together, Dempsey International and Timoneer will employ a methodical and thoughtful roll-up strategy, targeting both distribution and specialty manufacturing businesses
Dempsey International Packaging, a KCooper Brands company (“Dempsey International” or the “Company”) and Timoneer Strategic Partners (“Timoneer”) are pleased to announce they have reached a Partnership Agreement that establishes Dempsey International Packaging as an acquisition platform within the rigid packaging industry.
Founded in 2016 by Kathi and George Dempsey, and headquartered in Denver, Colorado, Dempsey International Packaging is led by CEO George Dempsey, a 24-year veteran of St. Louis, Missouri based TricorBraun, where he served as Chief Operating Officer. Ben Frazier, Managing Partner and co-founder of Timoneer, noted, “We are incredibly excited to partner with George, Kathi, and the entire Dempsey International team. It is amazing what Dempsey International has accomplished in just a short period of time. George not only brings an unparalleled understanding of the rigid packaging industry, but also has tremendous experience in driving private equity-backed acquisition strategies in the space.”
Dempsey International’s organic growth trajectory has continued to steepen through the COVID-19 pandemic. The Company is on track to top $50 million in revenue, making it the ideal platform for founders Kathi and George Dempsey to partner with other like-minded, entrepreneurial companies in the rigid packaging space. Ultimately, Dempsey International has the goal of becoming the acquisition partner of choice for closely held businesses in the industry, and the industry partner of choice for end customers, suppliers, and all constituents in the value chain.
Together, Dempsey International and Timoneer will employ a methodical and thoughtful roll-up strategy, targeting both distribution and specialty manufacturing businesses, that will provide an avenue for complementary companies to integrate into a platform that offers: (i) the necessary resources for sustainable growth and operational enhancement, and (ii) an inclusive culture with compelling go-forward economic incentives for current ownership and management. Through this partnership, Dempsey International and Timoneer believe they can quickly scale to become one of the largest rigid packaging specialty distribution platforms in the industry.
“It will be a resource-driven consolidation model, operating through a distributed structure, that keeps sales and operations decision-making activities close to the customer,” said George Dempsey. “Locking arms with Timoneer not only brings dedicated financial resources to the table, but also additional execution horsepower in support of the Company’s growth strategy through acquisition. Consistent with Dempsey International’s existing culture and approach, the newly created partnership will focus on high-touch creative services and value-added solutions for the Company’s customers and suppliers.”
“In what we believe to be an improvement over many consolidation efforts in the market today, our aim is a more inclusive approach to both ownership and operations. This differentiated and integrated approach signifies a unique milestone in the market’s evolution and promises the necessary resources and support for continued growth, a friendlier and more seamless transition, and an opportunity for all key stakeholders to participate in the upside. Ultimately, we believe this will create a win-win scenario and a model that drives long-term sustainable value for all parties,” said Matt Joen, Managing Partner and co-founder of Timoneer.
Timoneer will also provide further support to the continued expansion of Dempsey International’s game-changing Raptor Packaging E-commerce Platform, designed to help manufacturers reach distribution customers in a manufacturer-direct and brand-forward capacity.
Source: Company Press Release