ProAmpac, a portfolio company of Pritzker Group Private Capital, has acquired Wisconsin-based PolyFirst Packaging. This is the third add-on acquisition that ProAmpac has completed since being acquired by Pritzker Group in November 2016. The two earlier acquisitions were Armonk, NY-based Trinity Packaging in April 2017 and Orlando, FL-based Clondalkin Flexible Packaging in August 2017.
PolyFirst Packaging specializes in printed/customized roll stock and various types of plastic pouches and bags that are used in the industrial, medical, and food sectors. PolyFirst was founded in 1999 as Advanced Bag with an 8,100 square-foot facility with a couple of employees and two machines that produced exactly one style of polyethylene bags. Today, PolyFirst has 120 employees and 67,000 square-feet of production facilities in Hartford, WI (40 miles northwest of Milwaukee) and Aurora, IL (45 miles west of Chicago) (www.polyfirst.com). With the close of this transaction, PolyFirst will now operate as a part of ProAmpac’s US Flexibles Division and Steve Randazzo, the Chief Executive Officer of PolyFirst, will lead operations at the PolyFirst facilities in Hartford and Aurora.
ProAmpac’s packaging capabilities include adhesive lamination, extrusion coating and lamination, film extrusion, metalizing, pouching, bag converting, rotogravure printing, flexographic/offset printing, and HD flexo printing. The company operates under the Prolamina, Ampac and Tulsack brands and serves customers in the food, medical, pet food, security, industrial and specialty retail markets. With the buy of PolyFirst, ProAmpac now has 25 manufacturing sites globally with 3,200 employees supplying more than 5,000 customers in 90 countries. ProAmpac is led by CEO Greg Tucker and is headquartered in Cincinnati (www.proampac.com).
“The acquisition of PolyFirst provides us with cold seal capabilities and several new bag and pouch formats. Combined with our manufacturing expertise and award-winning printing assets, our customers will benefit from a more comprehensive service and product offering,” said Mr. Tucker.
“PolyFirst is a strategic acquisition that expands ProAmpac’s already robust product offering. We will continue to support ProAmpac with acquisitions that add value for their customers and support their growth initiatives in strategic markets,” said Michael Nelson, an Investment Partner at Pritzker Group Private Capital.
Pritzker Group, founded by Managing Partner Tony Pritzker and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates North America-based middle-market companies in the manufactured products, services and healthcare sectors; Venture Capital, which provides early-stage and growth venture funding to technology companies; and Asset Management, which partners with investment managers across global public markets. The Pritzker Group is based in Chicago (www.pritzkergroup.com).
© 2017 Private Equity Professional | September 5, 2017
