Pritzker Group to acquire Ohio-based ProAmpac
Leading flexible packaging manufacturer ProAmpac deal to close in November.
Pritzker Group Private Capital has signed a definitive agreement to acquire ProAmpac, a leading global flexible packaging company from Wellspring Capital Management.
Pritzker Group Private Capital and other co-investors are investing alongside the ProAmpac management team, which will remain a significant shareholder, continue to lead the company and serve on its board of directors. The transaction is expected to close later in November.
ProAmpac operates under the Prolamina, Ampac and Tulsack brands, and is headquartered in Cincinnati, OJ.
ProAmpac has more than 2,400 employees across 18 manufacturing locations in North America, Europe and Asia. It offers a broad range of products and capabilities, including wide web extrusion coating and laminating of film, foil, paperboard and nonwovens; metallizing; pouching; bag converting, and rotogravure and flexographic printing. ProAmpac’s technology-driven, innovative, flexible packaging solutions make it a leader in the food, medical, pet food, security, industrial and specialty retail markets.
“ProAmpac maintains an excellent reputation for innovation and world-class customer service. Its diverse product lines and strong market position make it a strong platform for growth in flexible packaging,” says Pritzker Group Private Capital investment partner Michael Nelson. “Pritzker Group continues to expand our investments in the packaging sector with this clear market leader.”
Adds Pritzker Group managing partner J.B. Pritzker, “ProAmpac is a leader in flexible packaging with an outstanding management team. Combining our permanent, proprietary capital base with this management team will enable ProAmpac to have tremendous opportunities for growth, both through organic initiatives and accretive acquisitions.”
ProAmpac chief executive officer Greg Tucker comments: “We live our core values of integrity, intensity, innovation and involvement every day—and we are pleased to work with a group that understands this commitment to our customers, suppliers and employees.
He continues, “Pritzker Group’s knowledge of the packaging market and permanent capital base will allow us to continue our strong track record of growth, innovation and successful acquisitions.”
ProAmpac is steadfast in its unwavering commitment to provide creative packaging solutions, industry-leading customer service and award-winning innovation to a diverse global marketplace. It is a diversified global packaging company with more than 2,400 employees and 18 manufacturing centers in North America, Europe and Asia. For more information, visit www.ProAmpac.com.
About Pritzker Group
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates leading North America-based companies; Venture Capital, which provides early-stage and growth venture funding to technology companies throughout the U.S.; and Asset Management, which partners with top-performing investment managers across global public markets.
Pritzker Group Private Capital acquires North America-based middle-market companies with leading positions in the manufactured products, services and health care sectors. The firm’s permanent, proprietary capital base allows for efficient decision making, broad flexibility with transaction structure and investment horizon, and alignment with management teams focused on creating long-term value. Pritzker Group brings significant resources, expertise and credibility in building businesses and is an ideal partner for entrepreneur- and family-owned companies. For more information, visit www.pritzkergroup.com.
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