Trade Resources Industry Views Kohlberg to Acquire Pexco From Odyssey

Kohlberg to Acquire Pexco From Odyssey

Private equity firm Kohlberg & Company has agreed to acquire Pexco, a North American specialty plastics manufacturer, from Odyssey Investment Partners.

Upon completion of the deal closes, Pexco will merge with Kolhberg portfolio company PPC Industries, which also comprises Kelpac Medical.

PPC is a specialty films manufacturer for food and industrial applications.

The merger is expected to strengthen both companies’ positions in the medical plastics sector, Kohlberg said.

Pexco CEO Neil Shillingford said: "Pexco and PPC provide engineered solutions to customers across the medical and specialty plastics industries, complementing each other remarkably.

“This event is a real step-change that deepens both our abilities to offer advanced plastics solutions to all our strategic customers.”

The combined entity will offer multiple thermoplastic and silicone tubing extrusion, injection molding, film, packaging, and value-add manufacturing technologies.

Employing over 2,000 people, the new entity will operate 20 plants across five countries. It will be based in Atlanta, Georgia, US.

Kohlberg operating partner and PPC chairman Roger Prevot said: “This transformational merger between PPC and Pexco will create significant value for the combined company’s customers, suppliers, and employees.”

In 2014, Kohlberg & Company invested in PPC Industries and has launched Kelpac Medical.

Pexco, which is a portfolio company of Odyssey Investment Partners, and PPC Industries are engaged in the design and fabrication of custom and specialty plastics products for medical, food, and industrial applications.

Source: http://pharmaproducts.packaging-business-review.com/news/kohlberg-to-acquire-pexco-to-boost-medical-plastics-business-280217-5751316
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