PPC Flexible Packaging, a portfolio company of Morgan Stanley Capital Partners, has acquired Temkin International.
Temkin is a provider of packaging products including rollstock, stand-up pouches and floral sleeves to companies that are active in the food, produce, floral, and stationary and craft markets.
The company was founded in 1980 by Danny Temkin and operates manufacturing facilities in Payson, UT (headquarters) and Bogota, Colombia with additional offices in Miami and Toronto (www.temkininternational.com).
PPC Flexible is a flexographic printer and converter of flexible films, bags and pouches that are used in the retail food and healthcare markets. The company is headquartered near Chicago in Buffalo Grove, IL with additional manufacturing facilities in Mission, KS, and Rome, GA (www.ppcflex.com).
In February 2017, Morgan Stanley Capital Partners acquired Fisher Container, a maker of flexible plastic pouches, bags and films, in partnership with plastics and packaging executive Kevin Keneally and the Fisher management team. In May 2017, Fisher Container completed its first add-on with the buy of Mission, KS-based Packaging Products Corporation (PPC). The combined Fisher Container and PPC operations were rebranded as PPC Flexible Packaging in February 2018.
“We are thrilled to have the outstanding team at Temkin International join the PPC family. Danny Temkin and Lynn Abplanalp have assembled a world-class manufacturing, pre-press and graphics operation recognized industry-wide for its innovation, service and quality. Having a west coast and South American presence expands our geographic footprint and provides us deeper capabilities in stand up pouch, plate making and flexographic printing,” said Kevin Keneally, CEO of PPC Flexible.
“We believe Temkin is an excellent complement to PPC, enhancing the product offering to the market while embodying the same service-focus culture as PPC,” said Eric Kanter, Managing Director of Morgan Stanley Capital Partners. “We congratulate Mr. Temkin on his tremendous success, and we’re thrilled to partner with Lynn Abplanalp and the rest of the Temkin employees.”
Morgan Stanley Capital Partners is the middle-market focused private equity business of Morgan Stanley Investment Management which in turn is part Morgan Stanley (NYSE: MS), a financial services firm providing investment banking, securities, wealth management and investment management services (www.morganstanley.com).
© 2018 Private Equity Professional | November 28, 2018
