Apr 2021

Audax Private Debt Provides Financing to Support Kelso’s Acquisitions of C.L. Smith and Silver Spur and Combination with Inmark

Audax Private Debt announced that, as Joint Lead Arranger, it provided a unitranche credit facility to support the acquisitions of C.L. Smith, a leading distributor of rigid packaging solutions, and Silver Spur, a supplier of specialty glass and plastic packaging by Kelso & Company (“Kelso”). C.L. Smith and Silver Spur will be combined with Kelso’s existing investment in Inmark, a distributor of rigid container and life sciences packaging products.

Founded in 1975, C.L. Smith is a one-stop shop for rigid packaging distribution, manufacturing, custom design, and hazardous material certification, serving a diverse range of customers and end markets. In addition to the company’s rigid packaging design, warehousing, and distribution capabilities, C.L. Smith operates Lyons Blow Molding, an extrusion blow molding facility that offers its customers greater flexibility with shorter run lengths, rapid response times, and full customization options.

Headquartered in Cerritos, CA, Silver Spur is a stocking distributor of glass and plastic packaging products serving a variety of end markets, with a specialization in glass bottles used in nutraceutical and pharmaceutical applications. Silver Spur offers customers just-in-time access to an extensive assortment of products sourced via the company’s global network of vendor relationships.

“Inmark has served as a strategic partner for global customers across a variety of end markets for nearly 50 years,” said Peter Stern, Managing Director at Audax Private Debt. “The combination with C.L. Smith and Silver Spur will meaningfully enhance the Company’s scale and capabilities.”

“Audax Private Debt has been a collaborative and reliable financing partner, and we’re grateful for their instrumental support throughout this process,” said Michael Nichols, Partner at Kelso & Company. “We look forward to working together as we pursue future growth opportunities for the combined company.”

About C.L. Smith
C.L. Smith is a premier rigid packaging provider with over 45 years of industry experience. Headquartered in St. Louis, MO, C.L. Smith provides full stocking distribution, custom packaging design and manufacturing, and turnkey hazardous material shipping solutions. Exceptional customer care and service are core to C.L. Smith’s operational philosophy and corporate culture. For more information, please visit www.clsmith.com.

About Silver Spur
Founded in 1978 and headquartered in Cerritos, CA, Silver Spur supplies a specialty portfolio of high-quality glass and plastic bottles, jars, caps, and closures to a variety of end markets. Silver Spur has developed a large, diverse, and growing customer base with numerous direct and distribution relationships throughout the U.S. For more information, please visit www.silverspurcorp.com.

About Inmark
For over 45 years, Inmark has been a trusted source for rigid container, temperature-controlled, specimen transport, used medical device, and dangerous goods packaging. Headquartered in Atlanta, GA with locations in Europe, Asia, and North America, Inmark has become a respected leader in developing packaging solutions for businesses globally. For more information, please visit www.inmarkpackaging.com.

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