Expanded global manufacturing capabilities, adding facilities in China and Argentina
Increased global production volume to more than 2 billion closures annually
Acquired by Global Leisure Partners in 2015
Founded in 1999 and based in Zebulon, North Carolina, Nomacorc engineers synthetic wine closures to prevent cork taint, oxidation and crumbling, providing a long-term solution at a lower price than a traditional wine cork. By 2007, Nomacorc had become the worldwide leader in the growing market for synthetic wine closures. The company’s founders sought a financial partner to provide partial liquidity and to help them take full advantage of Nomacorc’s growth potential.
How Summit helped:
- Led a recapitalization of the company in 2007
- Assisted with the acquisition of a European-based company, and assisted in the sourcing and evaluation of numerous acquisition opportunities across the globe
- Helped recruit a CFO and a General Manager for the European business
- Recruited a senior executive from Kraft to provide crucial supply chain perspective to the Board of Directors
- Worked with management to evaluate and prioritize several strategies for growth, including expansion of product line and geographic reach
Global Leisure Partners acquired Nomacorc in 2015. At the time of Summit’s exit, Nomacorc employed more than 500 people worldwide and had established a strong market position; Nomacorc wine corks protect nearly 15% of the global still wine market.