Foundation Investment Partners acquires Paper Converters to scale offerings

Foundation Investment Partners (FIP) has obtained Paper Converters, a manufacturer of spiral wound paper tubes, edge board, and sheeting. The acquisition was operated through FIP’s platform company Sustainable Packaging.

According to Paper Converters, all of its products are fully biodegradable and recyclable. 

The investment is said to enable Paper Converters and its sister packaging company Amspak to collaborate across product lines, leverage best practices, and ensure supply chain consistency. 

“We are excited to have the opportunity to develop centers of excellence in each of the facilities to drive increased value to our customers,” says David Partin, CEO at Sustainable Packaging. 

David Wood, managing member at FIP, adds: “We believe in the growth potential of this company. The paper tube industry's core strengths — versatility, sustainability, and customization — support durable, cost-effective, and eco-friendly solutions for a wide range of end markets. Paper Converters exemplifies these strengths.”

Paper packaging investment

Sustainable Packaging was founded in 2002 and is located in the city of Walterboro in South Carolina, US. 

FIP is a private equity investor specializing in niche manufacturers, high-value-added distributors, and outsourced business service providers with EBITDA levels of US$1 million–US$10 million.

The former owners of Paper Converters, Kline Smyly and Tanya Barnes, will remain with the entity to support its vision of paper packaging.

Smyly says: ‘We are excited to partner with FIP and Sustainable Packaging to continue the company's growth. There is great alignment in the cultures of the businesses in their focus on customer service and value while striving to be a great employer.”