Summit Plastics, a manufacturer of custom packaging services and a portfolio company of LongueVue Capital, has made an investment in Tim Fredman‘s Fredman Bag Co., a manufacturer of printed and converted custom flexible packaging products.
Based in Milwaukee, Wis. and founded in 1889, Fredman focuses on custom flexible packaging serving end markets including food and beverage, healthcare and medical, agriculture, industrial and retail. Fredman operates a 50,000-square-foot facility with printing and converting capabilities. With this deal, which complements Summit’s ClearView Packaging transaction in 2021, Summit looks to further expand its geographic presence and product offerings.
“Fredman and ClearView are very similar; however, Fredman adds new capabilities that complement our current product offerings,” says Todd Romer, president of ClearView Packaging, a subsidiary of Summit. “We are also both multi-generational family businesses with a strong focus on our culture and employee base. This is an exciting partnership for Summit and will add tremendous value to our customers.”
Origin Bank provided senior debt financing. Summit’s legal counsel was provided by Jones Walker LLP.