Spectrum Plastics Group, a portfolio company of AEA Investors, has acquired PeelMaster Medical Packaging. AEA acquired Spectrum in February 2018 from Kohlberg & Company.
PeelMaster is a converter of sterile flexible packaging including pouches, header bags, and die-cut lids used in the medical device market.
PeelMaster is an authorized converter of Tyvek, a brand of high-density polyethylene fibers owned by DuPont. The company, led by President Bill Sieck, was founded in 1989 and is based near Chicago in Niles, Illinois.
Spectrum designs and manufactures custom and specialty plastics products for niche, high value-added end markets, including medical, food and industrial applications. The company has multiple manufacturing capabilities including thermoplastic and silicone tubing extrusion, injection molding, film, packaging, assembly and value-add manufacturing. The company has 15 plants located in the United States, Mexico, Costa Rica, Ireland and Malaysia, and approximately 2,000 employees. Spectrum is headquartered north of Atlanta in Alpharetta, Georgia.
“The addition of PeelMaster advances our position as a custom, scalable flexible packaging supplier for the medical device sector. Their focus on quality and customer service fit squarely with Spectrum’s commitment to providing our customers with a first-rate experience,” said John Wolf, the president of Spectrum’s films division. “Additionally, we are very pleased to partner with DuPont as an authorized converter of Tyvek to continue providing superior sterile packaging to the healthcare industry.”
AEA invests across three sectors – value-added industrials, consumer, and services – and has 70 investment professionals at its headquarters in New York City with additional offices in Connecticut, London, Munich, and Shanghai. AEA was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co.
In December 2019, AEA finalized two new funds with the hard cap close of its seventh flagship fund, AEA Investors Fund VII LP, with total equity commitments of $4.8 billion, and its fourth small business fund, AEA Investors SBF IV LP, with total equity commitments of $877 million.
© 2020 Private Equity Professional | December 2, 2020
