Cello Bag was a flexible packaging manufacturer that provided film, printing, and packaging assembly of diaper bags for branded and private label customers.  Its largest customer encouraged the company to expand capacity, including adding an additional production facility in the eastern U.S.  Current ownership was uncomfortable with the prospects of further investment, leverage, and loss of distributions.

ZS Role

Zachary Scott was engaged to help management buyout the current non-employee owners and put in place a capital structure that allowed the company flexibility to pursue the growth of the business.


Zachary Scott negotiated a purchase price for the buyout of the non-management owners, arranged equity and debt financing to fund the buyout and the expansion, and negotiated incentive equity options for the managers.  The newly formed company became Flexible Holdings; it completed its plant expansion and achieved dramatic growth in the business.