January 07th, 2015
Bespoke Capital Partners Joins NoŽl Group to Purchase Nomacorc, LLC from Summit Partners
- Bespoke and Noël Group assume control of Nomacorc, the world’s largest maker of synthetic corks
- New owners will invest in business to drive brand awareness of technical product capabilities and consolidate certain attractive segments of the global wine supply industry
- Transaction reflects second investment for Bespoke and its affiliates in the last eight months
- Wine expert Ken Lamb to join board of Nomacorc
Bespoke Capital Partners announced it has made an investment in Nomacorc, LLC, the world’s leading manufacturer of synthetic wine closures. Bespoke partnered with the Founder and Chairman of Nomacorc, Marc Noël, to recapitalize the business and buy out Summit Partners resulting in the partnership owning the entirety of the Company. Mr. Noël is currently the Chairman of Noël Group, a global leader in the transformation of synthetic materials. This investment provides the foundation and resources for Nomacorc to build upon its global leadership position. It will accelerate its industry-leading efforts in research and development for closures and oxygen management solutions to drive global growth as well as help the Company capitalize on the large long-term opportunity to consolidate certain attractive segments of the global wine supply industry. As such, Bespoke tailored its investment in a unique and thoughtful manner to allow for a longer-term hold.
“We are excited to partner with Marc Noël and the Nomacorc management team,” said Robert L. Berner III, Bespoke’s co-managing partner. “Nomacorc has developed a leading market share in the overall wine closure sector with an attractive financial profile. The Company’s culture of technical expertise, ability to tailor products to customer requirements, product reliability and exceptional cost management are key contributors to its success, and clearly differentiate Nomacorc’s operations from other closure businesses.”
Mark Harms, co-managing partner of Bespoke added, “We invested in Nomacorc as a platform for consolidation of the highly fragmented supply chain in the $250 billion global wine industry. We look forward to supporting the management team in executing a growth strategy to increase the types of products and services offered to the wine industry thereby leveraging and enhancing the company’s already formidable distribution capabilities.”
Mr. Noël said, “I am excited to be partnering with Bespoke as Nomacorc begins its next phase of growth. Bespoke’s experience, strong track record and deep domain expertise in the wine industry will support the Company’s infrastructure for growth and help drive global expansion. Bespoke’s model is very attractive to entrepreneurs like myself who are looking for a thoughtful partner and structured capital solution that enables us to accelerate value creation and focus our efforts on the truly long-term potential of the enterprise. We are also pleased that Ken Lamb, an expert in the wine sector, has joined the Nomacorc Board and will be actively involved with our organization going forward.”
“We’re excited to work with the new ownership group to grow our business and are thrilled about the many opportunities that this investment will bring,” said Lars von Kantzow, president and CEO of Nomacorc since 2006. “We’ll be able to expand the Nomacorc brand and all that it entails – superior quality, groundbreaking innovation and exceptional customer service – to deliver on our ultimate objective of ensuring that wine is experienced and enjoyed by the consumer just as the winemaker intended.”
Global Leisure Partners (“GLP”), a leading sector-focused leisure and consumer merchant bank and joint venture partner in Bespoke, initiated this transaction and advised Bespoke on the investment and associated debt and equity capital raising. Two GLP Operating Partners, Bill Rogers and Ken Lamb, are participants in the investment and will both assume board of director roles in the Company.
Nomacorc is a worldwide leader in wine closures and the No. 1 closure brand for still wines in many countries including France, Germany and the United States. Dedicated to technological innovation, Nomacorc manufactures its portfolio of products using a patented co-extrusion process. As a result, Nomacorc closures provide consistent, predictable oxygen management and protect against off-flavors due to oxidation, reduction or cork taint. Nomacorc’s fully recyclable products are available through a vast network of distributors and sales agents on six continents. With nearly 500 employees worldwide and state-of-the-art manufacturing facilities in the United States, Belgium, China and Argentina, Nomacorc produces more than 2 billion closures annually. Working with renowned wine research institutes worldwide, the company leads the wine closure industry in fundamental and applied research into oxygen management in wine. For more information, visit nomacorc.com or follow Nomacorc on Twitter (@Nomacorc) and Facebook (Nomacorc).
About Bespoke Capital Partners
Bespoke Capital Partners is a private equity firm with personnel in New York, London and Palm Beach, FL. Formed in 2014 by Rob Berner and Mark Harms, the firm seeks to invest in companies in the consumer, leisure and related sectors both in the US and Europe.
As the name signifies, Bespoke tailors investment solutions to complex investment transactions requiring a thoughtful approach, deep sector knowledge and a clear understanding of the company’s and other shareholders’ needs. In every situation Bespoke structures each deal separately to meet the needs of both its investors and targeted companies. Given the flexibility in size and structure, Bespoke can make equity, mezzanine and debt investments with size ranging from small (<$50mm) to large ($500mm+). Nomacorc is the second transaction that Bespoke and its affiliates have initiated in the last eight months, following on from its parent company’s investment in 24 Hour Fitness in May 2014. Bespoke and its affiliated entities have now invested in excess of $350mm in support of its tailored private equity strategy. For more information, please visit www.bespokecp.com.
About Noël Group
Noël Group, LLC (www.noelgroup.net) is a privately-owned industrial holding company located in Zebulon, NC. The company’s mission is to invest in, lead and strategically manage manufacturing companies that specialize in the transformation of engineered synthetic materials. Noël Group is guided by a passion to create new markets, foster innovation and achieve market leadership. The Group operates a variety of manufacturing companies in the US and Europe, including Nomacorc, Nomaco, and Nomaco Insulation. Together, these companies employ more than 1,000 associates.
Communications Manager, Nomacorc LLC
Bespoke Capital Partners, LLC
Global Leisure Partners LLP ("GLP") is authorised and regulated in the UK by the Financial Conduct Authority. Global Leisure Partners LLC, a subsidiary of GLP, is a
broker-dealer registered in the US with the Securities and Exchange Commission and is a FINRA member firm. Global Leisure Capital Partners LLC ("GLCP"), a wholly-owned subsidiary of GLP, is the principal investment arm of GLP and registered with the SEC as an Investment Adviser. ©2014 GLP. All rights reserved. GLP specifically prohibits the redistribution of this material and accepts
no liability whatsoever for the actions of third parties in this respect.