CORE Industrial Partners Announces Investment in Century Box
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CHICAGO, November 2, 2023-- CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced today it has completed an investment in Century Box (the “Company”), a provider of folding cartons for store-brand food and consumer products.
Founded in 1978 by Alvin and Johanna Kagan, Century Box serves as a value-add partner for customers with complex packaging and service requirements. The Company offers comprehensive printing, converting, and finishing capabilities across a range of paperboard grades, with a particular focus on the replacement of single use plastic packaging with high visibility, recycled paperboard packaging. Headquartered in Methuen, Massachusetts, Century Box operates two facilities covering more than 200,000 square feet.
John May, Managing Partner of CORE, said, “Century Box is a well-established packaging business with a dedicated focus on developing long-term strategic relationships with its customers. We are excited to partner with David and Mark Kagan and the highly-skilled Century Box team and believe we can leverage our industry experience to help expedite the Company’s next stage of growth.”
David Kagan, CEO of Century Box, said, “On behalf of my father Alvin, my brother Mark, and all Century Box employees, we’re excited to officially begin this next phase of the Company’s history in partnership with CORE. As second-generation owners of a family business, we set out to find a partner that could provide the resources and support to execute substantial growth opportunities while respecting our culture and values. We believe CORE is an ideal fit, and we’re looking forward to working with CORE to further expand our reach.”
Frank Papa, Senior Partner at CORE, said, “Century Box’s comprehensive suite of folding carton manufacturing capabilities, attractive end market exposure and customer-oriented approach collectively form a compelling foundation for a new investment. We’re eager to work with the Century Box team to expand the Company’s value proposition through both strategic initiatives and complementary acquisitions.” Mr. Papa will become Chairman of Century Box’s Board of Directors.
Winston & Strawn LLP provided legal representation to CORE in the transaction.
ABOUT CORE INDUSTRIAL PARTNERS:
CORE Industrial Partners is a private equity firm with over $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses with offices in Chicago, Austin and Cleveland. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a demonstrated track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies. For more information, visit www.coreipfund.com.
ABOUT CENTURY BOX:
Founded in 1978, Century Box is a provider of folding cartons for store-brand food and consumer products. Headquartered in Methuen, Massachusetts, Century Box offers comprehensive printing, converting, and finishing capabilities across a range of paperboard grades. For more information, visit www.centurybox.com.