Foundation Investment Partners Acquires Paper Converters Inc.

Foundation Investment Partners (FIP) announced the acquisition of Paper Converters, Inc. through its platform company, Sustainable Packaging, LLC. The deal was revealed on January 30, 2026, from Solon, Ohio. Paper Converters, founded in 2002, operates from Walterboro, South Carolina, and specializes in manufacturing spiral wound paper tubes, edge board, and sheeting. The company primarily serves the textile industry across the Southeastern U.S., emphasizing strong customer service alongside quality, environmentally friendly products. All its offerings are 100% biodegradable and recyclable.​

This acquisition allows Paper Converters and its sister company, Amspak, to integrate operations over shared product lines, adopt best practices mutually, and ensure ongoing supply chain stability. The firms target complementary markets. David Partin, CEO of Sustainable Packaging, stated, "We are excited to have the opportunity to develop centers of excellence in each of the facilities to drive increased value to our customers."​

David Wood, Managing Member of Foundation Investment Partners, commented, "We strongly believe in the growth potential of this company. 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."​

Paper Converters' previous owners, Kline Smyly and Tanya Barnes, will stay on to advance the company's aim of becoming the top value provider of paper packaging in the area. Smyly, noted for his operational skills, will contribute significantly to the merged operations. Smyly said, "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."​