Invera Flexibles: A New Packaging Giant Forged from Canadian Merger

MONTREAL, QC – May 04, 2026 – A significant new force has emerged in the North American flexible packaging industry with the formation of Invera Flexibles. The new entity, born from a merger of equals between Quebec-based PolyExpert Inc. and Polykar Industries Inc., immediately establishes itself as a market leader with over $200 million in combined annual sales and a workforce of 350 employees.

Backed by a formidable private equity consortium, Invera Flexibles is not just combining assets but launching an aggressive growth strategy fueled by a $20 million capital injection aimed at expanding its coast-to-coast manufacturing footprint and solidifying its position as an innovator, particularly in the booming sustainable packaging sector.

A Strategic Combination Forged for Growth

The creation of Invera Flexibles represents more than a simple corporate consolidation; it is a strategic fusion of two complementary Canadian manufacturing leaders. The merger combines PolyExpert's four decades of specialized expertise in the research and production of high-performance polyethylene films with Polykar's established leadership in sustainable finished products, including certified compostable bags and recycled content materials.

Founded in 1979, PolyExpert built its reputation as Canada's largest non-integrated polyethylene film manufacturer, known for its cutting-edge R&D and a diverse product line serving food-grade, industrial, and agricultural markets from its base in Laval, Quebec. Meanwhile, Polykar, founded in 1987, carved out a distinct identity as a pioneer in eco-friendly packaging, earning widespread recognition for its certified compostable solutions and its investment in a circular economy model.

Under the new structure, the company will operate three state-of-the-art facilities in Montreal, Laval, and Edmonton. This geographic distribution provides a strategic advantage, enabling Invera Flexibles to efficiently serve customers across the continent. While operating as a unified entity, the company has confirmed that the well-regarded PolyExpert and Polykar brands will continue as distinct product lines, preserving their strong market recognition while benefiting from the increased scale and capabilities of the parent company.

"It is a great honour and privilege for me to carry on the legacies of both Polykar Industries and PolyExpert through Invera Flexibles," said Amir Karim, who will lead the new company as President and CEO. "Together with our partners at Kent Road Capital and MontClerc Capital, we benefit from both strong capital backing and industry expertise, positioning us to further build a market-leading company that will continue to innovate and deliver exceptional value to our customers across North America."

Capital Injection Fuels Coast-to-Coast Expansion

A cornerstone of the merger is a commitment of up to $20 million in new capital to significantly expand and modernize production capacity. This investment will primarily target the company's facilities in Edmonton, Alberta, and Laval, Quebec, with the goal of pushing annual production capacity beyond 150 million pounds.

The Edmonton facility, a relatively recent addition for Polykar that became operational in 2022, is slated for a major expansion. Following an initial $40 million investment, a further $20 million project, supported in part by a $770,000 grant from the Alberta government's Investment and Growth Fund, is set to double the plant's footprint to 100,000 square feet. This expansion is projected to double the facility's output to 40 million pounds annually by the fall of 2026 and create dozens of new local jobs. The plant also plays a key role in regional sustainability, recycling over three million pounds of Alberta plastic waste each year.

The investment in the Laval facility, PolyExpert's long-time home, will focus on modernization, ensuring it remains at the forefront of film extrusion technology. This dual-pronged investment strategy underscores Invera Flexibles' ambition to not only meet but anticipate growing market demand for high-quality and specialized packaging films.

Riding the Green Wave: A Bet on Sustainable Packaging

Invera Flexibles is strategically positioned to capitalize on the powerful shift toward sustainable packaging, a market projected to grow at over 4% annually. The company lists "compostable solutions" as one of its five key market segments, a claim backed by the deep-rooted expertise of its predecessor companies.

Polykar was a North American leader in producing compostable bags certified by the Biodegradable Products Institute (BPI). These products meet the stringent ASTM D6400 standard, which requires that they disintegrate and biodegrade into natural elements within 180 days in an industrial composting facility, leaving no toxic residue. This commitment to verified sustainability is increasingly critical as governments and corporations respond to consumer pressure and implement stricter regulations, such as California's mandate for all single-use packaging to be recyclable or compostable by 2032.

PolyExpert also brings a strong R&D focus on biodegradable and compostable films to the table. By combining these capabilities, Invera Flexibles is equipped to offer a comprehensive suite of eco-friendly products, from raw converter films to finished food-grade packaging, that helps its customers meet their own sustainability goals. This focus on verifiable green credentials provides a significant competitive advantage in an industry where environmental responsibility has become a primary purchasing driver.

The Private Equity Playbook: Reshaping an Industry

The formation of Invera Flexibles is a textbook example of the growing trend of private equity firms driving consolidation and transformation in traditional manufacturing sectors. The deal is backed by Kent Road Capital as the majority investor, alongside MontClerc Capital, which already had a relationship with Polykar.

MontClerc Capital, a $250 million fund backed by prominent Quebec entrepreneurial families, had previously made a strategic investment in Polykar to fuel its North American growth and eco-responsible initiatives. Their continued involvement signals a long-term vision for building a durable, market-leading platform.

"We are proud to back Invera Flexibles, a differentiated platform with strong fundamentals and a clear path to sustained growth," commented Mathieu L'Allier, Managing Partner at MontClerc Capital.

Dave Timm, an Operating Advisor for the majority owner Kent Road Capital and a new Invera Flexibles Board Member, emphasized the customer-facing benefits of the merger. "What excites me most is what this means for customers – by combining two exceptional businesses, customers now have access to a partner in Invera Flexibles with multiple facilities, a best-in-class team of dedicated employees, and the capacity to grow with them," he stated. "That kind of reliability and depth is rare in this market."

This strategic backing provides Invera Flexibles with not only the capital for expansion but also the operational expertise and strategic oversight to navigate the competitive landscape, solidifying its emergence as a formidable new player in North American packaging.