Founded in 1991 and headquartered in Montreal (QC), Rebox is a leading North American corrugate box re-use platform.
Investment
N/A
Fund
ONCAP V
Period
September 2024 - Present
ONCAP Team
Transaction Summary
ONCAP acquired a majority stake in Rebox, in partnership with Rebox's founders and management, in September 2024.
Business Description
Rebox is a leading North American corrugate box re-use platform. Rebox plays a significant role in the circular economy by securing once-used corrugate boxes and selling them to commercial end users through a network of third-party logistics providers. Additional products sold include new boxes, pallets, gaylords, sheet boxes and other packaging materials. The Company services a network of over 1,800 customers, leveraging its network of warehouses and 3PL facilities to source and sell over 50 million boxes annually.
Investment Thesis
ONCAP was attracted to Rebox due to its (I) market leadership in the re-used corrugate space, (II) multiple organic growth levers in a market with a large untapped whitespace opportunity, (III) unique customer and supplier value proposition by providing material cost savings to customers, premium pricing to recycling alternatives for suppliers, and measurable ESG benefits to both customers and suppliers, (IV) attractive financial profile and free cash flow characteristics, and (V) fragmented industry with a pipeline of actionable M&A targets.