SOURCE Foundation Investment Partners

SOLON, Ohio, Jan. 30, 2026 /PRNewswire/ -- Foundation Investment Partners (FIP) is pleased to announce the successful acquisition of Paper Converters, Inc. through its platform company, Sustainable Packaging, LLC. Founded in 2002 and located in Walterboro, South Carolina, Paper Converters is a manufacturer of spiral wound paper tubes, edge board, and sheeting. The business serves the textile industry in the Southeastern U.S., focusing on providing strong customer service and quality, environmentally friendly products. All Paper Converters' products are 100% biodegradable and recyclable.

This investment enables Paper Converters and its sister company, Amspak, to collaborate across overlapping product lines, leverage best practices, and provide supply chain continuity. The businesses operate in complementary markets. "We are excited to have the opportunity to develop centers of excellence in each of the facilities to drive increased value to our customers," said David Partin, CEO of Sustainable Packaging. "We strongly believe in the growth potential of this company," said David Wood, Managing Member of Foundation Investment Partners. "The paper tube industry's core strengths-versatility, sustainability, and customization-support durable, cost-effective, and eco-friendly solutions for a wide range of end markets. Paper Converters exemplifies these strengths." 

The former owners of the business, Kline Smyly and Tanya Barnes, will remain with the Company to support its vision to become the best value provider of paper packaging in the region. Mr. Smyly is a gifted operator and will be an enormous asset to the combined entity. "We are excited to partner with FIP and Sustainable Packaging to continue the company's growth. There is great alignment in the cultures of the businesses in their focus on customer service and value while striving to be a great employer," said Mr. Smyly.

About Foundation Investment Partners

Foundation Investment Partners focuses on investing in niche manufacturers, high value-added distributors, and outsourced business service providers with EBITDA levels of $1 million to $10 million. FIP's operating model focuses on embedding our team with the owners or operators of smaller businesses to provide the support, guidance, and resources necessary to grow the business. For more information, please visit www.foundationpartners.net.

For media inquiries or further information, please contact:

David Wood
Founder & Managing Member
Foundation Investment Partners
[email protected]
(440) 903-1791

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