About the Transaction
SunBelt Packaging, LLC (“SunBelt”) (sunbeltpackagingllc.com), a portfolio company of SouthPointe Ventures, is a leading distributor of Industrial Packaging products that include corrugated, poly shrink films, stretch films, steel and poly strapping, hand and machine carton sealing tapes, and other flexible packaging materials. Sunbelt’s end markets include the Textile Industry, Automotive, Building Products, Chemicals, and Furniture among others. SunBelt serves customers across most of the United States from four facilities in South Carolina (York and Johnsonville), Indiana, and Utah. Atlanta-based SouthPointe Ventures originally acquired Sunbelt in 2006 and supported multiple add-on acquisitions and geographic expansion during its 16-year investment period.
The buyer, Envoy Solutions, LLC (“Envoy”) (envoysolutions.com), is a leading National distribution company focused on janitorial supply, industrial packaging, and food service disposables. Envoy is a subsidiary of FEMSA (NYSE: FMX) the world’s leading bottler of Coca-Cola as well as a diversified platform with several different lines of business. Based in Glenview, IL, Envoy operates more than forty distribution centers across the United States. SunBelt is Envoy’s 18th acquisition since the Company was founded in 2020.
Paramax served as the exclusive M&A advisor to SunBelt on this transaction. The SunBelt transaction represents Paramax’s 20th sale of a Specialty Wholesale Distributor in the past three years. Paramax has extensive experience advising Packaging Distributors as well as General Wholesale Distributors, in a variety of industries with a track record of highly successful outcomes at premium valuations. Paramax Corporation is a FINRA-registered investment banking firm focused on M&A transaction advisory services.