Investment firm takes over IntraPac with a view to future growth
Based out of Swedesboro, New Jersey, IntraPac recently launched its new plastic laminate tubes for cosmetic applications (right), and it is new solutions such as this that attracted the interest of CI Capital.
"IntraPac's targeted product offering, including specialty bottles, jars, caps and closures, and tubes, offer attractive growth potential, profitability, and consolidation opportunities," added Tom Ritchie, managing director at the North American private investment firm.
Further investments and acquisitions
"[It] will serve as a platform in this industry as we seek to invest in or acquire complementary businesses to expand the company's product breadth and customer base."
The packaging manufacturer's other product offerings include personal care and amenity bottles, single and double-walled jars, injection molded caps and closures, laminate tubes, deodorant stick canisters, and other specialty rigid plastic packaging products.
In conjunction with the transaction, Thomas Linton, formerly the president of North American Packaging Corporation (NAMPAC) will become CEO of IntraPac.
"[CI Capital is] a firm that has a long history of helping companies like IntraPac accelerate their growth and execute on strategic acquisitions. We are confident that this transaction will enable [us] to create and deliver even more value to our existing customers as well as secure new customers," he commented.
Future growth
IntraPac currently has eight production facilities spanning North and Central America, and also serves over 400 customers worldwide, and CI Capital president, Steven Lefkowitz, believes this puts the company in a strong position, particularly for further growth.
"IntraPac has a strong track record of growth and profitability, a proven ability to make attractive acquisitions, and long-term relationships with a high quality, diverse customer base,” he explained.
“We look forward to working with Tom Linton and the company's experienced management team to build on IntraPac's strong position and pursue further growth opportunities in this space," said Lefkowitz.
