Canadian protective packaging provider Specialized Packaging Group (SPG) has announced the acquisition of US-based company Protective Packaging Solutions (PPS) for an undisclosed amount.
The acquisition of PPS, which specialises in the design and fabrication of engineered protective packaging solutions, is expected to improve the existing capabilities of SPC, a portfolio company of Altamont Capital Partners.
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The deal will allow SPG to expand its engineered packaging offerings and geographic presence mainly in the Midwest and Rocky Mountain markets of the US.
SPG CEO Paul Budsworth said: “The addition of PPS to our rapidly expanding team means we will be adding world-class custom-engineered packaging capabilities to an operation that is already an industry leader.
“We are also excited to strengthen our presence in the growing Midwest and Rocky Mountain markets, allowing us to better serve our customers. We are looking forward to bringing the PPS team fully on board and integrating them into a footprint that extends across North America and provides high-quality products to a diverse customer base.”
Following this transaction, PPS’ 90 employees will be added to SPG’s existing workforce of 1,600 people.
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By GlobalDataSPG said that this acquisition will not affect PPS’ leadership and workforce, who will continue to operate from their present work locations, including Aurora in Colorado and Cincinnati in Ohio.
Colorado-based PPS was founded in 1982 and provides its packaging solutions for a wide range of applications across different industries and end markets.
PPS’ president Tom McNamara said: “Over the last several years, PPS has grown by focusing on highly engineered, custom packaging solutions that save our customers time and money and that utilise the highest quality materials and the latest technology.
“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 PPS team is thrilled to join SPG, and we look forward to taking our combined business to the next level.”
