The Tasman mill has over the last period commenced production of paper for supplies into the Asian packaging markets in the form of Pulp on Reel. This is part of the ongoing strategic development process to transition the Tasman mill in New Zealand out of standard newprint production. As part of the same strategic review, Norske Skog has received significant inbound interest for Nature’s Flame pellets facility located close to the Tasman mill; therefore, Norske Skog has decided to launch a process to asses the best long term ownership structure for this operation. “The Tasman mill management and the larger Australasian organisation have shown entrepreneurial spirit in quickly developing an alternative business case for the mill, making good commercial use of existing assets and infrastructure on the site. I am certain that the continuing work will result in further ways to maximise the potential in the Tasman mill’s excellent fiber access and fiber processing competencies” says Norske Skog Chief Executive Officer, Sven Ombudstvedt.
Sole Source Capital LLC, an industrial-focused private equity firm, today announced that its portfolio company, ID Images (“IDI”), a premier provider of product identification solutions, has acquired Lebanon, Tennessee-based Hickman Label. The acquisition marks the fifth add-on investment for IDI since it became a Sole Source Capital portfolio company in August 2021. Terms of the transactions were not disclosed.
Founded in 2016, Hickman Label is a provider of highly-customized label solutions for the ondemand inkjet market. On-demand inkjet labels enable customers to print small batch, prime labels via their own desktop printers. In addition, Hickman’s robust ordering platform has the unique capability of integrating into its distribution customers’ websites utilizing a plug-in tool. The company sells to a mix of distributors and end users with more than 2,000 active customers across North America.
“We are thrilled to partner with the team at Hickman Label. Hickman’s impressive online ordering platform and expertise in the rapidly growing on-demand label market introduces a compelling new growth avenue for IDI’s platform,” said Scott Sussman, Partner and CIO of Sole Source Capital.
“IDI and Hickman Label share similar commitments to the success of their customers and employees. We look forward to working with the Hickman family and the entire Hickman Label team,” said Jeff Fielkow, President and CEO of IDI. “This acquisition will greatly increase IDI’s omnichannel presence. We look forward to providing Hickman’s products to our customer base while simultaneously extending our product line to Hickman’s customers.”
“IDI is the perfect fit to maximize Hickman Label’s potential,” said Neil and Frank Hickman of Hickman Labels. “Our unique approach to providing quick turnaround for labels will complement IDI’s resources enabling us to meet an even wider variety of customer needs. We are excited to partner with Jeff and his team.”