Backcast Partners Provides Strategic Growth Capital to Dominion Packaging
Backcast Partners (“Backcast”), a leading provider of debt and equity capital for middle-market companies, is pleased to announce its investment in Dominion Packaging, Inc. (“Dominion” or the “Company”) to support growth capital expenditures and a recapitalization of the Company. Backcast provided both senior secured debt with warrants and convertible preferred equity as part of the transaction. The opportunity to participate in the growth financing was brought to Backcast by existing lender Truist, which continues to provide the company’s revolving credit facility.
Founded in 2004 and headquartered in Richmond, Virginia, Dominion is a leading independent provider of printed cardboard folding cartons for blue-chip consumer packaged goods customers in the food and beverage space. Dominion is known for its industry leading graphics capabilities, including in the growing digital printing segment.
Gino Pacini, CEO of Dominion, said, “The Backcast team demonstrated exceptional professionalism, insightful analysis, and unwavering commitment throughout this process. Their collaborative partnership approach made them an invaluable resource, not only in structuring this transaction but specially in understanding our business requirements and long-term strategic objectives. I am confident that they will be an excellent and valuable partner who will contribute strategic value to the company as we continue our rigorous and transformative growth strategy.
Ed Cerny, Managing Partner at Backcast, added, “It is a pleasure to be able to support the growth of an industry leader like Dominion with a best-in-class management team that is completely committed to working together with best-in-class customers to lead the ongoing digital printing transformation in the CPG industry. The company’s customers continue to award new business to Dominion both because of their unparalleled commitment to service and quality, and because of their willingness to provide printing solutions others cannot. Growth financings like this are one of Backcast’s primary lines of business—and perhaps one of the most rewarding to participate in—and we look forward to working with Gino and his team to actualize their growth visions for their company.”
Backcast was represented in the transaction by Greenberg Traurig and McGuireWoods LLP.
About Backcast Partners
Backcast Partners, formed in 2016, manages value-additive, credit-focused private investment funds providing capital to both private-equity backed and privately held management-owned companies. With approximately $1.3 billion in assets under management, the Backcast team has been supporting traditional middle-market companies ($7.5 million to $50 million of EBITDA) for decades. Backcast’s managed funds have a very flexible capital mandate and seek to invest from $20 million to up to $150 million per transaction. Backcast Partners operates out of offices in New York City and Millburn, NJ.
Information for Companies Seeking Capital, please contact:
Mark Gudis, Managing Partner
mgudis@backcastpartners.com
(973) 512-7487
www.backcastpartners.com
Investor Information, please contact:
David Petrucco, Managing Partner
dpetrucco@backcastpartners.com
(973) 512-7482
www.backcastpartners.com
