GenNx360 Capital Partners, a New York City-based private equity firm investing in middle-market business-to-business industrial and business services companies, recently announced the acquisition of B2B Industrial and the assets of AMW Packaging Supply. This is in partnership with the management teams of B2B Industrial Packaging LLC and American Machinery Works, Incorporated.
B2B Industrial sells a full range of packaging supplies and equipment, including fasteners, tool-repair services, as well as strapping, stretch film, and corrugated products. Headquartered in Addison, Illinois, it serves more than 6,000 active clients across a wide variety of end markets across its footprint in Illinois, Texas, California, Oregon, Washington, and Kansas.
AMW Packaging Supply also provides a wide variety of packaging supplies and equipment, as well as tool and equipment servicing and repair services, in the Southwest United States and Florida. It’s headquartered in Phoenix, Arizona,
Subsequent to the acquisition, Bill Drake, the current president of B2B Industrial, will take over as CEO of the combined operations of B2B Industrial and AMW Packaging Supply.
“The complementary nature of B2B Industrial and AMW Packaging Supply’s service offerings will result in a partnership that provides clients with a more robust offering and enhances our growth potential,” said Drake. “GenNx360’s operational expertise and track record of building platforms will be a tremendous asset to the management team as we undertake this next phase of rapid growth.”
Chuck Farguson, the current CEO of AMW Packaging Supply, will take over as president of B2B Industrial’s west operations. AMW Packaging Supply will continue to operate out of its current locations in Phoenix.
Rishi Verma, the GenNx360 VP who led the transaction on behalf of GenNx360, said: “B2B Industrial and AMW Packaging Supply have been disruptors within the industrial packaging space, achieving outsized growth in an industry that GenNx360 believes to be very attractive. Both B2B Industrial and AMW Packaging Supply are led by impressive management teams who have built industry-leading businesses known for superior client service.”
“The simultaneous acquisition of these two industry-leading companies, especially under challenging market conditions, reflects the strength and resilience of both businesses and is a testament to GenNx360’s ability to be creative in partnering with management teams in structuring and executing on transactions,” added Ron Blaylock, GenNx360’s founder and managing partner.