Dallas, TX - August 14, 2024
CIC Partners (“CIC”) is pleased to announce that Patrick Nunan, an accomplished food packaging industry veteran, has joined the firm as an Operating Partner. In this capacity, Mr. Nunan will be joining CIC’s LP base of accomplished executives, operators and entrepreneurs, working alongside the team as an investor, operator and advisor. The addition of Patrick Nunan to the CIC team deepens CIC's strengths investing in the packaging and food supply chain industries through added operational capabilities and relationships within the sectors. Mr. Nunan most recently served as President and Chief Commercial Officer of Direct Pack, Inc. (“DPI”), a leader in sustainable, fully circular, thermoformed plastic packaging.
Nunan will work alongside CIC pursuing new investment opportunities while advising on value-creation and growth strategies within CIC's existing food and packaging portfolio. In his first active role, Nunan will join the board of Packline USA, a CIC portfolio company and full-service supplier of packaging solutions and equipment for the food and beverage industries, as well as joining the management team as Chief Growth Officer.
“Mr. Nunan is a proven business leader and value-added partner who has been instrumental in guiding and building his prior companies, creating significant value for customers and shareholders,” said Amir Yoffe, Partner at CIC Partners and Chairman at Packline USA. “His commercial expertise, industry leadership and strategic vision will certainly be welcome across the CIC portfolio. We are excited to work with Patrick and leverage his long-term customer relationships as we continue to partner with owner-operators to help grow their businesses. His expertise operating in the packaging space, combined with CIC’s foodservice and contract manufacturing investment experience, present exciting revenue and growth opportunities as we pursue a platform investment in this industry.”
Mr. Nunan’s leadership track record in the packaging industry spans over 20 years. As a founder of Nexus Sales and Marketing, an outsourced sales organization, he led the company to sales exceeding $200 million, eventually selling the company in 2014. Mr. Nunan joined DPI as an outside adviser in 2009 and was named Executive Vice President and Chief Revenue Officer in 2017. In that role, he helped guide the company through its substantial expansion and was responsible for setting the strategic direction of the company's commercial activities.
"It is a privilege to partner with CIC. I look forward to contributing my experience to their model of partnering with leading companies across the food industry," said Nunan. "Our goal is to partner with companies in the food packaging sector and food industry more broadly, providing not only capital resources but also leadership on key growth initiatives to drive the business."
Mr. Nunan is a graduate of UC Santa Barbara with a bachelor’s degree in Business Economics. He and his wife, Janet, are involved with Open Arms Childcare Ministries, an organization that is focused on family and child abandonment issues. He also spends time pursuing a life long passion for surfing and enjoying the company of their adult twins Max and Libby.
CIC has significant expertise investing within the food supply chain serving the retail, foodservice, and restaurant industries. Its investment platform focuses on the entire food supply chain and includes investments in packaging, food manufacturing and processing, agriculture, consumer packaged goods, distribution and restaurants. CIC has developed deep relationships with major foodservice restaurant customers and management teams through its existing portfolio company experience in conjunction with its team of Operating Partners. CIC’s approach and relationships allow it to focus on building a customer-centric business model to better analyze and serve customers' needs.
About CIC Partners
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, healthcare and energy industries. CIC manages the personal capital of its investment team, operating partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its operating partners, who are successful CEOs and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private-equity investing for its investors and management teams for over 30 years. For additional information, please visit www.cicpartners.com.