LongueVue Capital (LVC) partnered with CEO Tom Nathanson and the management team of Summit Plastics to recapitalize the business and provide growth capital. Summit is a business-to-business focused manufacturer of custom low-density and linear low-density polyethylene (“LLDPE”) blown film and bags for commercial end markets, including food and beverage, industrial and healthcare.
Summit says it operates out of an upgraded manufacturing facility where it produces blown film and bags, including mono and multi-layer films (1, 3, 5 layers), made to customer specifications with various options, including environmentally-sustainable bioresin, printing, color, slip, antimicrobials, corona treatment and anti-static/block.
“Summit’s strong reputation and desire to exceed customer expectations has positioned the company as a clear leader in the custom plastic packaging sector,” says Ryan Nagim, partner at LVC. “By leveraging decades of experience and focusing on a niche and custom product offering, the Summit team has achieved exceptional, above-industry growth and we plan to build on that success through investments in technology, capabilities and capacity.”
“We are excited about our partnership with LongueVue Capital, as its deep industry relationships and track record of successfully supporting middle-market businesses will help Summit effectively navigate the next phase of our growth,” says Tom Nathanson. “We are confident that this partnership will be a great cultural fit for both organizations and will allow us to better serve our customers through even broader capabilities and higher service and quality standards.”
“Summit’s remarkable growth trajectory over the past several years is a testament to its excellent customer service and quality. We are very excited for the opportunity to partner with Summit’s management team as they continue to build the company into a best-in-class manufacturer,” says Paul Ebbert, who joined LVC as an operating partner to support its specialty packaging investment strategy. Prior to LVC, Ebbert held various senior leadership positions in the specialty packaging and plastic sectors in both operations and sales and marketing, including as executive vice president for Fortune Plastics, vice president of sales at Clondalkin NA, and most recently as a vice president at Novolex.
Nagim says, “We could not be more pleased to have Ebbert join our team. Not only does he share our partnership approach and commitment to driving value creation in middle-market companies, but he also brings over 30 years of leadership experience and unparalleled expertise in the packaging industry. He will be invaluable in supporting our origination, diligence and execution efforts, as well as providing strategic guidance post-closing.”
Rick Rees, LVC’s co-founder and managing partner, says, “Ebbert is the ideal partner to help support both our investment in Summit and our broader packaging strategy. He is a terrific cultural fit with LVC and we are extremely excited to have him as a resource for our portfolio companies.”