Bill Drake

B2B Industrial Packaging LLC was acquired by New York City-based private equity firm GenNx360 Capital Partners for an undisclosed sum.

Founded in 2004, Addison, IL-based B2B Industrial Packaging sells fasteners, steel strapping and stretch film primarily in the Central Great Lakes, California, Nevada and Texas. The company also operates fastener tool repair facility.  Web: b2bind.com

GenNx360 Capital Partners also acquired Phoenix-based American Machinery Works Inc., which provides packaging supplies and equipment, as well as tool and equipment servicing and repair services, in the Southwest and Florida.

B2B Industrial president Bill Drake will take over as CEO of the combined operations.  Drake has led B2B Industrial since 2015.

“The simultaneous acquisition of these two industry-leading companies, especially under challenging market conditions, reflects the strength and resilience of both businesses,” stated GenNx360 founder and managing partner Ron Blaylock.

GenNx360 invests in middle-market business-to-business industrial and business services companies.  Web: gennx360.com