Sonoco Completes Acquisition of Eviosys

Hartsville, South Carolina-based Sonoco Products Company (NYSE: SON), a global leader in high-value sustainable packaging, announced the close of its acquisition of Eviosys, Europe’s leading food cans, ends and closures manufacturer, from KPS Capital Partners, LP.

Officials said the transaction advances Sonoco’s portfolio transformation strategy to simplify and realign its portfolio and position the company for long-term growth and value creation.

Sonoco announced its intent to acquire Eviosys on June 24, 2024.

Following the integration process, Eviosys will transition to the Sonoco brand over the coming months and will operate under Sonoco’s Consumer Packaging segment. 

ChemAnalyst.com reported the deal was valued at approximately $3.9 billion.

With net sales of approximately $6.8 billion in 2023, Sonoco has approximately 22,000 employees working in more than 300 operations around the world, serving some of the world’s best-known brands.

Eviosys is a global supplier of metal packaging, producing food cans and ends, aerosol cans, metal closures and promotional packaging to preserve the products of hundreds of consumer brands.

Eviosys has the largest manufacturing footprint in Europe, the Middle East and Africa (EMEA) in the industry with 6,300 employees in 44 manufacturing facilities across 17 countries in the region.

Trez Capital Provides $12 Million Loan for Self-Storage Facility in Duncan

The Dallas-based office of Trez Capital announced the closing of a $12 million loan to Greenville-based Streams Development to develop a 952-unit state-of-the-art self-storage facility in Duncan, South Carolina.

The project, located at the northwest corner of Highway 290 and Shoals Road, spans 130,000 square feet with a net rentable square footage of 101,650.

The property will feature climate-controlled units, a state-of-the-art security system that includes keypad entry and an exterior surveillance system.

“The self-storage industry has seen significant growth in recent years, driven by various factors including urbanization, downsizing trends, and the rise of e-commerce,” said Jason Stowe, senior managing director, U.S. origination.

Stowe added, “We are confident in Streams Development’s expertise in constructing modern storage facilities that meet the needs of thriving communities like Duncan.”

The storage facility is set to open in December 2025.

Founded in 1997, Trez Capital is a diversified real estate investment firm and provider of commercial real estate debt and equity financing solutions across North America.

Greenville Chamber Announces 2024 Minority Business Accelerator Graduates

The Greenville Chamber’s Minority Business Accelerator Upstate initiative held its graduation ceremony on Thursday, Dec. 5, celebrating the completion of the annual program.

The Minority Business Accelerator supports and scales high-potential minority-owned firms by providing targeted training, access to business coaches, and connections with large corporations.

Participants undergo intensive training for the first six months, following the internationally recognized Interise StreetWise ‘MBA’ curriculum led by instructor Wendell Jones.

During the final six months, participants work closely with financial experts, coaches, and MBA peers on their three-year Strategic Growth Action Plans and implementation of learnings.

Graduating from the 2024 program were eight local, small business owners:

Guillermo Avila, 365 Digital Technologies Ltd Co

Rebecca Coates, PointSource Environmental, LLC

Rachel Epps, Arts in Motion

Emilio Garcia, Boundify

Francisco “Kiko” Salazar, Tangible

Nekita Sullivan, Yoga Therapy Bar, LLC

Dorothy “Lynn” Walker, New Trendz Barbering Academy

Mac Wilkes, Legacy Transport Services.

At the graduation ceremony, the Greenville Chamber presented three awards to recognize the outstanding accomplishments of key partners and participants.

Avila and Epps received MBA Excellence Awards for their dedication and growth throughout the program.

Greenville Technical College received the MBA Partner award in recognition of the organization’s longtime commitment to growing and supporting the MBA program.

To qualify for the year-long program, businesses must be based in the Upstate, socially or economically disadvantaged (minority, veteran, or woman-owned, as well as those serving lower-income communities), and a member of the Greenville Chamber.

Since its inception, the South Carolina Minority Business Accelerator has graduated more than 120 participants, created 280 new full-time jobs, and participants have seen a combined $28 million in new revenue.

Graduates have a proven track record of success, with 90 percent of the businesses still operating.

Tax professionals Must Renew Preparer Tax Identification Number By Dec. 31

With more than 800,000 Preparer Tax Identification Numbers set to expire Dec 31, 2024, the Internal Revenue Service recommends tax professionals renew their PTIN now with the IRS Tax Professional PTIN system.

Anyone who prepares or helps with preparation of tax returns for compensation must have a valid PTIN.

Tax professionals must include a PTIN with any return or claim for a refund filed with the IRS.

The fee to renew or obtain a PTIN for 2025 is $19.75, which is non-refundable.

Renew PTINs online
To renew a PTIN online through the IRS Tax Professional PTIN system, the registered tax professional will need to complete an online renewal application, verify their personal information and answer questions. Once the IRS receives payment, the agency will send the applicant confirmation the PTIN has been renewed.

Apply for a PTIN online
First-time applicants may also use the IRS Tax Professional PTIN system to apply online. The applicant will need to:

* Create an account using their name and an email account that they always have access to.

* Complete the online application by providing personal information, credentials and history.

* Pay the fee by credit, debit or ATM card or eCheck.

The applicant will receive a PTIN once they complete all steps and the IRS receives payment.

PTIN system features
With the PTIN system, tax professionals can also: 

* See a list of continuing education.

* Find a summary of the number of filed returns on which their PTIN has appeared in the current year.

* Receive communications through a secure mailbox from the IRS Return Preparer Office.

* Track their progress for participation in the IRS Annual Filing Season Program.

Allow us to tell your company's Business Narrative. Send your press release to David Dykes or for more information email [email protected]