The amount of the deal was not disclosed. In conjunction with the funding, Jim Bloom, Managing Partner at Vopne, joined Phoenix Wrappers’ Board of Directors.
The company intends to use the funds to continue to expand operations.
Founded in 1994 and led by CEO Graham Nicholson, former head of CanAm Packaging, Phoenix Wrappers designs and manufactures stretch wrapping machinery which had operated as a partnership between two separate companies, Phoenix-Innotech and CanAm Packaging Systems.
The two companies merged this week to form Phoenix Wrappers, an integrated provider of stretch wrapping equipment, parts, service and support with over 3,000 stretch wrapping machines deployed worldwide.