Backcast Partners Boosts Dominion Packaging with Strategic Investment for Expansion

In a significant move to strengthen its market presence, Backcast Partners recently announced an investment in Dominion Packaging, Inc. This financing, intended for growth capital expenditures and company recapitalization, is poised to bolster Dominion's operations in the competitive field of consumer packaging.

Overview of the Investment

The investment, which encompasses both senior secured debt with warrants and convertible preferred equity, showcases Backcast's commitment to supporting middle-market enterprises. The opportunity materialized with the assistance of Truist, a current lender for Dominion, which continues to provide the company’s revolving credit facility.

Founded in 2004 and headquartered in Richmond, Virginia, Dominion Packaging has emerged as a leader in the production of printed cardboard folding cartons designed primarily for blue-chip clients in the food and beverage sectors. The company has earned a reputation for its exceptional graphics capabilities, a critical asset in today’s digital printing landscape.

Dominion's Growth and Goals

Gino Pacini, CEO of Dominion Packaging, praised Backcast Partners for their professionalism and insightful approach throughout the investment process. He highlighted their role as not just investors, but as strategic partners who understand Dominion's overarching business goals. The collaborative nature of this partnership is expected to provide added value as the company adheres to its rigorous growth strategy.

Pacini expressed confidence in Backcast's ability to contribute strategically, stating, “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.”

Backcast’s Perspective

Echoing Pacific’s sentiments, Ed Cerny, Managing Partner at Backcast, articulated the significance of supporting a standout organization like Dominion. Cerny remarked on Dominion’s dedication to maintaining high service and quality standards, which draw continued business from various clients. This financing reflects Backcast's emphasis on initiatives that promise mutual growth and innovative solutions in the evolving consumer packaged goods industry.

“This is one of Backcast's primary lines of business and perhaps one of the most rewarding to participate in,” said Cerny. “We look forward to working alongside Gino and his team to bring their growth visions to fruition.”

About Backcast Partners

Established in 2016, Backcast Partners is committed to providing credit-focused private investment funds aimed at both privately held businesses and those backed by private equity. With around $1.3 billion in assets under management, Backcast has a flexible capital mandate, allowing them to invest from $20 million to $150 million per transaction. The firm operates from its offices located in New York City and Millburn, New Jersey, emphasizing a focus on traditional middle-market companies.

Such strategic partnerships not only underline the importance of financial backing for growth but also highlight the collaborative synergies that can emerge from effective investor-company relationships. As Dominion Packaging prepares to leverage this new capital for growth initiatives, both firms stand to benefit from shared success in a rapidly evolving market landscape.

For more information regarding investment opportunities, interested parties can contact Backcast Partners directly through their official website.