Pritzker Group Private Capital has completed the acquisition of US-based flexible packaging company ProAmpac from private equity firm Wellspring Capital Management.
Financial terms of the deal, which was signed in October 2016, were undisclosed.
Operating under the Prolamina, Ampac and Tulsack brands, ProAmpac employs more than 2,400 people across 18 manufacturing locations in North America, Europe and Asia.
The company offers a 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 was formed by Wellspring in August 2015 through the merger of Prolamina and Ampac Packaging. It later acquired Coating Excellence International.
The company offers flexible packaging solutions for food, pet care and medical markets, along with secure packaging for the transport of cash and valuables, and retail shopping bags.
Pritzker Group managing partner J B Pritzker earlier said: “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.”
In 2015, Pritzker acquired US-based LBP Manufacturing to tap the latter’s potential in material science, equipment and converting technology in food and beverage packaging.
Pritzker Group’s private capital team acquires and operates leading North America-based companies while its venture capital team provides early-stage and growth venture funding to technology companies.
Additionally, the group's asset management team partners with top-performing investment managers across global public markets.
