US-based alternative investment firm HIG Capital has completed its acquisition of Atlapac and the Inno-lok Division of packaging company Polymer Packaging.
HIG carried out the acquisition through its portfolio company, Dazpak Flexible Packaging.
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Based in Columbus, Ohio, Atlapac is a flexible packaging and pouch converter serving the food and beverage, homecare and healthcare end markets.
The deal is intended to strengthen the companies’ combined capability to provide flexible packaging solutions and services in the US’ Midwest region.
It will also expedite Dazpak’s entry into new products and markets.
Atlapac president Paul Unrue said: “We are pleased to have a growth-oriented partner in Dazpak.
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By GlobalData“The combination will allow us to provide a more comprehensive suite of flexible packaging solutions to our clients in the Midwest and West Coast.
“This is an exciting new chapter in the Atlapac growth story.”
Based in Massillon, Ohio, Polymer is a converter of inno-lok pouches for the food and beverage end market.
Following the acquisition, Polymer’s assets will be integrated with Atlapac.
HIG Capital managing director Ryan Kaplan said: “We are thrilled to partner with Paul Unrue and the Atlapac and Polymer teams.
“These acquisitions fit perfectly into Dazpak’s investment thesis, which includes aggressively pursuing mergers and acquisitions (M&A) to help broaden the company’s customer base, product offering, geographic reach, and service capabilities.”
Atlapac and Polymer are Dazpak’s third and fourth add-on acquisitions since HIG took over the company in late 2020.
The financial terms of the transaction have not been disclosed.
Dazpak CEO James Rooney said: “We are excited about the strategic expansion of our flexible packaging offerings into the Midwestern US.
“Atlapac and Polymer not only allow us to expand outside our core Western US markets, but also significantly expand our customer footprint and portfolio of flexible packaging solutions.”
