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Interflex Completes Recapitalization with Red Diamond

The Courtney Group is pleased to announce that The InterFlex Group, a specialist in flexible packaging for food customers, has completed a leveraged recapitalization financing in which Red Diamond Capital has become a major shareholder in InterFlex.

Prior to the transaction, Stephen Doyle, CEO and President of InterFlex, had owned 100% of InterFlex stock. "This transaction brings to InterFlex the resources to continue to grow our successful business both under our won expansion initiatives and through possible acquisitions." Mr. Doyle said.

"We selected Red Diamond as a partner because of their knowledge of the packaging sector, their strong ties with companies we can do business with around the world that are connected to the Mitsubishi group, and their support for our vision for InterFlex." Said Mr. Doyle.

Bret Russell at Red Diamond said, "InterFlex has many exciting growth opportunities and we look forward to working with Steve Doyle and his team to help the company continue to prosper." Terms of the transaction were not disclosed.

About the Deal
Stephen Doyle, the 100% owner of InterFlex, was able to diversify his holdings by selling some of his shareholdings and at the same time to increase the capital available to InterFlex for growth and acquisitions by bringing in Red Diamond Capital as a substantial partner.

About InterFlex
InterFlex, based in Wilkesboro, North Carolina, provides value-added specialty packaging to customers in the poultry, meat, produce and bakery sectors. The Company has plants in the US, UK and Brazil. The company was founded in 1975 and today employs about 220. For more information please visit

About Red Diamond
Capital Formed in 2002, Red Diamond Capital is an independent $150 million private equity fund that invests in middle-market distribution, manufacturing, service businesses in North America. With its committed capital provided primarily by Mitsubishi Corporation, Japan's leading trading company, through its U.S. subsidiary, Mitsubishi International Corporation, Red Diamond offers a unique mix of strategic resources, industry-focused capital and management expertise to fuel the growth of its portfolio companies. 

About The Courtney Group
The Courtney Group, Incorporated is a merchant banking firm, working with companies in some cases as an advisor on capital raising and M&A assignments and in other cases as principal, investing for its own account. Formed in 1995 The Courtney Group specializes in working with middle market companies with revenues of $5 million to $500 million in the following industries: manufacturing, technology, health care, financial services, and environmental services. Investment banking activities are carried out by The Courtney Group, LLC, member FINRA and SIPC. For further information on the firm please visit

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