BAYPAC SOLUTIONS (PTY) LTD
Baypac was formed in 1986, initially as a supplier of a limited range of packaging materials focusing on end-of-line packaging. Subsequently, Baypac has grown to offer a range of specialised products and solutions geared towards the packaging and process industry specifically targeting niche markets across various sectors, most notably automotive, food, packaging, oil, solar and filtration.
Based in Port Elizabeth, but boasting a national sales force, Baypac takes time to assess, analyse and understand their customers packaging requirements before offering bespoke solutions that include products and equipment sourced from best in class international packaging suppliers.
Growth Capital Partners provided the capital for the founding generation to fully exit from the business, whilst partnering with the management team to grow the business into the future.
We engaged with Deal Leaders Africa in the beginning of the year who spent a considerable amount of time upfront understanding our business and canvassing the market for the right partner. They introduced us to Growth Capital Partners and we didn’t look back.
Initially we envisaged a straight swop, replacing our majority shareholder and founding member Dave Louw with an equity partner, however Growth Capital Partners put a structure together that allowed the management team to increase their participation in the business.
They also facilitated meaningful black ownership into the equity structure which greatly improved our B-BBEE score card.
Gerhard Oosthuizen, MD of Baypac
We are very excited to be associated with Baypac, an established business with over 30 years experience in the niche packaging and process industry.
Baypac has an excellent reputation in the market for customer service and reliability, with long-standing blue-chip customers across various industries.
The investment allows us the opportunity to cross-sell their diverse product range into our existing portfolio of investments as well as identify wider markets for Baypac to explore.
Tim Page, an Executive of Growth Capital Partners