Kian Capital Transaction Announcement – SunBelt Packaging, LLC
Kian Capital is pleased to announce that it has invested $4.0 million of senior subordinated debt in SunBelt Packaging, LLC (“Sunbelt” or the “Company”) to support the Company’s working capital and expansion needs. SunBelt, based in York, South Carolina, is a leading distributor of flexible industrial packaging materials, bulk containers, and automated packaging equipment. The Company sells its products to industrial and commercial end-users that manufacture, transport, or store products in industries that include general manufacturing, food production, and mining. SunBelt’s products are used primarily to seal boxes, wrap products in protective films, reduce friction or wear, secure products for transportation, and to carry or stack heavy materials during production or transport. SunBelt is a portfolio company of SouthPointe Ventures, LLC, an Atlanta-based private equity holding company.
Rick Cravey, Partner at Kian Capital, said “SunBelt’s value-added engineering expertise, servicing, and sourcing proficiency have cemented the Company’s leading position in the industrial packaging industry. We are very pleased to support SunBelt’s talented management team and are excited about the Company’s long-term growth prospects.”
Ed Fisher, Managing Partner of SouthPointe Ventures, commented “We are excited to partner with Kian Capital and value their broad experience within the lower middle-market. This investment into SunBelt will enable us to accelerate the Company’s growth strategy and take advantage of the exciting opportunities we have in front of us.”
More information on SunBelt can be found by visiting www.sunbeltpackagingllc.com.
About Kian Capital
With offices in Atlanta, GA and Charlotte, NC, Kian Capital is a licensed Small Business Investment Company ("SBIC") with $150 million of capital under management. The firm makes debt and equity investments in leading lower middle-market companies across a broad range of industries. We typically provide between $5 million and $15 million of capital in support of buyouts, recapitalizations and growth financings. We seek to partner with business owners, independent sponsors and private equity firms that are committed to increasing the enterprise value of their businesses.
About SouthPointe Ventures
SouthPointe Ventures is an Atlanta-based private equity holding company investing in companies in the manufacturing, distribution, and business services sectors. Primary investment focus is on companies with revenues up to $50 million and EBITDA of $1 - $5 million, typically headquartered in the Southeast or Midwest U.S. www.southpointeventures.com.