LongueVue Capital Completes Investment In Summit Plastics And Adds Experienced Specialty Packaging Operating Partner
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NEW ORLEANS, Jan. 20, 2021 /PRNewswire/ LongueVue Capital ( LVC ) is pleased to announce it has partnered with CEO Tom Nathanson and the management team of Summit Plastics ( Summit or the Company ) to recapitalize the business and provide growth capital. Headquartered in Summit, MS, Summit is a business-to-business focused niche manufacturer of custom low-density and linear low-density polyethylene ( LLDPE ) blown film and bags for a number of commercial end markets, including food and beverage, industrial, and healthcare.
Summit has experienced rapid growth since Tom Nathanson acquired the business in 2015. The Company currently employs more than 100 full-time employees and operates out of a recently-upgraded 90,000 square foot manufacturing facility, from which it can produce a wide range of value-added
LVC buys Summit Plastics, targets more acquisitions
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Private equity firm LongueVue Capital announced Jan. 20 it is investing in Mississippi-based blown film and bag maker Summit Plastics Inc. and said it plans to be extremely active in the packaging and plastics industries.
New Orleans-based LongueVue said the investment in Summit is its first in the plastics sector. It s providing growth capital to expand Summit s product offerings and its national footprint, including in bioresin films, said LVC Vice President Evan Golden. Terms were not disclosed.
LVC also said it s brought in a longtime plastics industry executive, Paul Ebbert, as its operating partner for a new specialty packaging investment strategy that could include buying other firms.