Nomacorc Secures New Venture Capital Investment

North Carolina-based Nol Group, a global leader in the transformation of synthetic materials, recently announced that Summit Partners, a private equity and venture capital firm that has raised nearly $9 billion in capital since 1984, has invested in Nomacorc LLC, a Nol Group subsidiary and the world’s leading manufacturer of synthetic wine closures. This investment will support Nomacorc in its continued global growth.

“We have seen outstanding growth in our market and our business since we founded Nomacorc in 1999,” said Nomacorc founder and Nol Group Chairman Marc Nol. “The continued fast pace of the synthetic wine closure market and the current global opportunities available led us to seek a new financial partner to enable Nomacorc to take full advantage of its growth potential.”

The management team of Nol Group selected Summit Partners for this alliance because of the private equity firm’s success, strength, and style. “Summit Partners has a wonderful history of success in its support of growing, entrepreneurial businesses,” explained Nol. “I believe that Summit is the right partner to help us pursue the many growth opportunities ahead for Nomacorc.”

“Summit Partners is excited to be partnering with the management teams of Nol Group and Nomacorc,” said Kevin Mohan, a General Partner in Summit Partners’ Boston office. “We were attracted to the Nomacorc opportunity because of the company’s market leadership position, quality management team, and outstanding growth prospects.”

“The management of Nomacorc is thrilled to have Summit Partners involved with the company,” said Lars von Kantzow, Nomacorc’s Chief Executive Officer. “We are very comfortable with Summit, their entire team, and their overall business approach. They believe in our marketplace and our strategy; and they are interested in supporting Nomacorc in our mission to provide long-term value for our customers.”

Nol Group will remain as actively involved in the management of Nomacorc as in the past. Marc Nol will remain Chairman of Nomacorc’s Board of Directors, which will be expanded to include Kevin Mohan and Jason Glass, a Vice President with Summit Partners.

Nomacorc LLC (www.nomacorc.com), the worldwide leader in the growing synthetic wine closures segment, is part of the Nol Group family of companies. Since its start up in 1999, Nomacorc’s innovative products have catapulted the company to the position of industry leader with a volume well in excess of 1 billion closures per year. The company’s portfolio of products are manufactured with patented co-extrusion technology that provides consistent, predictable oxygen management. As a result, Nomacorc has been chosen to protect billions of bottles of the world’s most recognized wines worldwide. Manufacturing in the US and Belgium, Nomacorc associates strive to provide the highest level of service to customers on six continents. The company employs approximately 400 personnel.

For more information, please visit www.nomacorc.com