Founders Advises Bag Supply Company in Sale to Field Packaging Solutions
BIRMINGHAM, Ala. (February 16, 2023) – Founders is pleased to announce that certain principals of Founders Advisors advised Bag Supply Company, Inc. (“Bag Supply”) in its sale to Field Packaging Solutions, LLC (“Field”). The transaction closed on February 1, 2023.
Bag Supply, founded in 1990 and headquartered in Birmingham, AL, is a leading manufacturer and distributor of packaging solutions used for a diverse range of commercial applications. Bag Supply manufactures flexible intermediate bulk containers (“FIBCs”), multi-wall paper bags, and woven polypropylene bags in its Alabama and Mexico facilities, and supplies FIBCs, polyethylene bags, woven polypropylene bags, and more through its distribution warehouses in Alabama and Texas.
Under the leadership of second-generation owner and CEO Dennis Limbaugh, Bag Supply increased capacity to become one of the largest independent bag manufacturers in North America while adding product lines to meet demand and become a single-source packaging solutions provider. Throughout Bag Supply’s history of growth, its key principles have always remained the same – take care of the customer, focus on quality, and always do the right thing.
Dennis Limbaugh, Bag Supply CEO, said, “We are thrilled to be partnering with the Field Packaging team and look forward to working together to provide industry-leading packaging solutions. Field brings everything we sought in a partner – long-term stability, shared values, and the strategic and financial resources to continue growing Bag Supply and providing opportunities for our employees. Thanks to the Founders team for walking us through every step of this process – we could not have done it without them.”
“It has been a pleasure to work with Dennis to find the right partner to support the Company’s future growth opportunities while maintaining Bag Supply’s reputation for excellent service and product quality. Field brings deep industry experience, complementary product lines, and shared core values, and we are excited to see the combined Company’s future growth,” said John Sullivan, Managing Director at Founders.
Joe Kaplan, CEO of Field Packaging Solutions, commented, “We are delighted to welcome Dennis and Bag Supply to the Field Packaging team. Bag Supply has an exceptional track record of service, quality, and product innovation – along with our shared values, this made Bag Supply a perfect fit for Field. We look forward to working together to lead Bag Supply through its next stage of growth.”
About Founders Advisors, LLC
Founders is a merger, acquisition, & strategic advisory firm serving middle-market companies. Founders focuses on helping companies across industrial, technology, business services, consumer, and healthcare industries. Founders’ skilled professionals, proven expertise, and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals. In order to provide securities-related services discussed herein, certain principals of Founders Advisors, LLC are licensed with Founders M&A Advisory, LLC, member FINRA and SIPC. Founders M&A Advisory, LLC is a wholly-owned subsidiary of Founders Advisors, LLC. Founders Advisors, LLC does not provide investment advice. For more information, please visit www.foundersib.com.
About Field Packaging Solutions, LLC
Field Packaging Solutions (FPS) (www.fieldpackagingsolutions.com) is a self-funded private family office that makes acquisitions and investments for the long term with no exit strategy. With more than 75 years of packaging industry expertise and a commitment and passion to nurture businesses, we add value by bringing investment, ideas and innovation to every transaction. FPS acquires, invests in and operates small to medium-sized manufacturing businesses in various segments of the packaging industry including, but not exclusive to, polyethylene extrusion and bag converting, adhesive laminating and flexible packaging, and specialty label conversion. We actively seek additional companies to add to our current platforms that include the above mentioned industries as well as folding cartons and paperboard.