Meridian General Capital has completed the acquisition of Silver Spur Corporation, a supplier of specialty glass and plastic bottles.
Silver Spur manufactures glass bottles and containers, HDPE (High Density Polyethylene) packers, PET (polyethylene terephthalate) containers, and closures. Silver Spur’s product line also includes vials and syringes, plastic caps, droppers and desiccants (silica-gel packs). The company serves the nutritional supplement, pharmaceutical, cosmetic, food, beverage, wine, and auto industries with a range of products in every size and shape of containers used in packaging customer products. Silver Spur specializes in providing colored glass products such as amber, cobalt blue, and green in addition to their flint glass products. The company maintains a 120,000 square foot warehouse where it stocks over 40 million units of inventory. Silver Spur has manufacturing facilities in Taiwan and China. The company was founded in 1978 and is headquartered southeast of Los Angeles in Cerritos, CA (www.silverspurcorp.com).
“We are glad to acquire a company that has long been recognized as a reliable partner in its customer’s critical supply chain,” said Ravi Rao, Chairman and CEO of Meridian. “We intend to build a dynamic enterprise from this strong platform that has been very successful in this highly specialized business. We recognize the expertise of the long tenured staff, which is a critical asset of the company, and with the addition of key management and business development resources, we expect rapid expansion of this highly scalable business.”
Meridian General Capital invests in middle market companies with annual cash flows ranging from $3 million to $20 million. Typical transaction sizes range from $10 million to $200 million. Sectors of interest include: aviation and aerospace, technology, logistics and distribution, travel, online marketing, e-commerce, business services and niche manufacturing. The firm was founded in 2002 and is based in Los Angeles (www.meridiangeneral.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-25-15