Prolamina Corporation’s owner – Wellspring Capital Management LLC has recently completed its acquisition and merger of Ampac Holdings LLC with Prolamina.
According to Matthew Harrison, a principal of Wellspring, this acquisition and merger of Ampac with Prolamina shows the attractiveness of flexible packaging industry across the globe. Wellspring strongly believes that there is an increased scope of growth in this industry due to growing demands for the same from customers.
The new company will have its headquarter in Cincinnati, OH. It will merge Prolamina’s three manufacturing locations in North America (Neenah, WI; Terrebonne, Quebec, Canada; and Westfield, MA) with Ampac’s thirteen production plants in North America, Asia and Europe. The capabilities of the new venture will include extrusion and adhesive laminations, flexographic and rotogravure printing, together with the mutual innovative mindshare of over 2,000 employees.
A Global Flexible Packaging Leader Emerges From the Prolamina Merger
Greg Tucker, CEO of Prolamina, will be heading the merged company as CEO. In a press release, Tucker said that he is honored to lead a company with more than 2,000 committed team members and 16 facilities across the globe equipped with extraordinary manufacturing capacity to meet the growing needs of its customers.
Apart from having a global footprint and expansive capabilities, the company also takes pride in serving a diverse range of markets. The list includes foodservice, dry and liquid foods (like coffee, dairy, frozen items, pet and produce), pharmaceutical, beverage, medical, chemical, industrial, security, hardware and retail.
A communications advisor at Kekst and Co. – Mark Semer, said that the company is building its combined branding strategy and is expected to announce a new name as part of its effort sometime soon.
In the domain of flexible packaging, both Prolamina and Ampac have a stellar history of several strategic acquisitions. In August 2010, Harold Bevis created Packaging Solutions Holdings with the acquisition of Jen-Coat – a flexible packaging manufacturer. This was followed by the firm’s acquisition of flexible packaging manufacturer Excel Pac. in March 2011. In May 2011, the name of the company was changed to Prolamina.
Ampac was founded in 1966 and acquired by H.I.G. Capital LLC in 2014. Ampac has made various acquisitions over the years. Some of them are Interstate Packaging Corp. (2000), Tulsack Inc. (2002), Kapak Co. (finalized in 2005), Flexicon Inc. (2005), Mohawk Northern Plastics Inc. (2007) and ELAG Verpackungen AG (2011), to name just a few.
Thus, this new acquisition and merger will create a global flexible packaging competitor that boasts of the best product portfolio and an extensive geographical range in the industry.
To know more about Prolamina commercial finance acquisitions visit their investor relations micro site.