PPC’s ProAmpac Acquires Pactech

PPC’s ProAmpac Acquires Pactech

ProAmpac, a portfolio company of PPC Partners, has acquired Pactech Packaging. PPC acquired ProAmpac from Wellspring Capital Management in October 2016.

Pactech Packaging manufactures flexible packaging including pouches, bags, covers, liners, and roll stocks with zippers, fitments, spouts, and other reclosing options. The company’s products are used for government and military supplies, aerospace components, automotive components, food packaging, pharmaceutical/medical pouches and bags. The company was founded in 1993 and has a 127,000 square foot manufacturing facility and headquarters in Rochester, NY (www.pactechpackaging.com).

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, Tulsack, Bonita Pioneer and Trinity Packaging brands and serves customers in the food, pet care, health care, lawn care, and retail markets as well as providing packaging used in the transport of cash and valuables. With the addition of Pactech, ProAmpac now has 28 manufacturing sites with nearly 3,400 employees supplying more than 5,000 customers in 90 countries. ProAmpac is headquartered in Cincinnati (www.proampac.com).

“The acquisition of Pactech expands ProAmpac’s flexible packaging pouch manufacturing capabilities in dispensing and clean-environment production. In addition, the deal expands our short-run capabilities, allowing us to better serve our customers,” said ProAmpac CEO Greg Tucker.

The buy of Pactech is the second add-on acquisition closed by ProAmpac in 2018. In January it acquired Portland, OR-based Bonita Pioneer, a manufacturer of paper packaging products including custom and stock shopping bags, merchandise bags, foodservice packaging, and folding cartons (www.bonitapioneer.com). “ProAmpac’s track record of successfully acquiring and integrating industry leaders and its focus on innovation are well-known,” said Chris Trick, a Principal with PPC Partners. “The acquisition of Pactech underscores our commitment to delivering the best possible products and service to ProAmpac’s customers.”

PPC Partners acquires North America-based middle-market companies that have enterprise values between $100 million and $750 million and EBITDA in excess of $15 million. Sectors of interest include manufactured products, services and healthcare.  The firm is led by Tony Pritzker and the former investment and operating professionals of Pritzker Group Private Capital. PPC Partners has offices in Chicago and Los Angeles (ww.PPCPartners.com).

© 2018 Private Equity Professional | April 10, 2018

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