SPG Expands Capabilities and Reach in Engineered Packaging Division with addition of Packaging, Engineering, and Design Firm and Phoenix Manufacturer
Troy, MI and Phoenix, AZ – Specialized Packaging Group (SPG), a leading, vertically integrated provider of protective packaging products, announced today that the company has acquired both Troy, Michigan-based Packaging Concepts & Design (PC&D) and Phoenix, Arizona-based Packaging Specialists, Inc. (PSI). PC&D and PSI had common ownership through private equity firm O2 Investment Partners based in Bloomfield Hills, MI.
The acquisition will enhance SPG’s existing capability set in its Engineered Packaging division, expanding the company’s engineering and design resources and geographic reach while adding approximately 100 employees to its 1,300-person workforce. PC&D and PSI leadership and the companies’ full workforce will continue to operate in their current locations. SPG, one of the largest independent protective packaging manufacturers in North America, is a portfolio company of Altamont Capital Partners.
“The addition of PC&D to our Engineered Packaging division means we will be adding world-class engineering capabilities to an operation that is already an industry leader. PC&D has been the go-to packaging design firm for the automotive industry for over 40 years,” said SPG CEO Bob Lally. “With this announcement, we are excited to strengthen our presence in automotive, especially the growing electric vehicle market, which will allow us to better serve our customers. We are looking forward to bringing the PC&D and PSI teams fully on board and integrating them into a footprint that extends across North America and provides high-quality products to a diverse customer base.”
“Over the last several years, PC&D has grown by focusing on highly engineered solutions geared towards creating efficiencies in our customers’ global supply chains. With SPG, we have found a partner that shares our vision and has the resources to accelerate our growth plans in new and existing markets. The PC&D team is thrilled to join SPG and we look forward to taking our combined business to the next level,” said PC&D CEO Joe Gumbis.
“PSI is extremely excited about the opportunity to be added to a highly respected protective packaging platform such as SPG. We look forward to growing our product categories, design capabilities and manufacturing resources as we expand our customer base together,” said PSI President Patrick Coveney.
About Specialized Packaging Group
Specialized Packaging Group, Inc. is a vertically integrated provider of protective packaging products and one of the largest independent manufacturers of protective packaging in North America. The company operates under two divisions, IVEX and Engineered Packaging. IVEX manufactures a range of packaging materials at six facilities across the U.S., Canada and Mexico, and Engineered Packaging, which is comprised of Induspac and Estapack, designs and manufactures customized packaging solutions at nine facilities in the U.S. and Mexico.
About Packaging Concepts & Design
Packaging Concepts & Design is a leader in the design and delivery of highly engineered packaging products and solutions. Founded in 1914, PC&D provides expendable and returnable packaging to companies located throughout North America. Its innovative approach to packaging and custom-design solutions creates efficiencies throughout customers’ supply chains. For more information, visit www.pcdpackaging.com.
About Packaging Specialists, Inc.
Packaging Specialists Inc. is Arizona’s largest maker of custom and semi-custom engineered protective packaging. PSI manufactures and designs highly engineered protective packaging using polyurethane, polyethylene, crosslink and EPE foam materials, along with wood, plastic and steel. All of its custom-engineered packs are tested and approved before being deployed to returnable and expendable logistic destinations by customers. PSI services a wide array of industries including aerospace, semi-conductor, electronics, military and defense, and it has been serving the state and surrounding territory since 1976. For more information, visit www.psisw.com.
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $3.5 billion of assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including consumer, restaurants and multi-unit, financial services, healthcare, industrials, and business services. For more information, visit www.altamontcapital.com.