Larsen MacColl buys S. Walter, plans acquisitions

Larsen MacColl Partners LP,  the Wayne investment firm headed by Princeton grads Jeff Larsen (ex of Chartwell Investment Partners) and Tim McColl (Chatterton Partners), says it has bought S. Walter, a Northeast Philadelphia company that says it designs and distributes customized shopping bags, boxes, wrapping paper and bows for more than 10,000 U.S. and Canada customers. The buyer won't tell the price, but notes it typically buys "established and profitable companies" with at least $5 million in yearly sales.

The buyer named Kurt Koloseike, former chief executive of FlagZone, as S. Walter's new chief executive, Larsen MacColl partner Satya Ponnuru said in a statement, adding that the firm plans to use S. Walter's "strong market position, first-rate management team and unique design and global sourcing" to "aggressively grow the Company both organically and through acquisition."

Koloseike, in a statement, called the sale "an exciting new era for S. Walter," founded by Simon Walter in 1904 and based at 2900 Grant Ave. by Northeast Philadelphia Airport. Koloseike said the company has the cash, people and expertise "to hire additional talent and pursue strategic acquisitions for long term growth." NewSpring Mezzanine, a Radnor investment fund, and Wells Fargo Bank financed the deal. Larsen MacColl was represented by law firm Miller & Martin PLLC.