Pritzker Group Private Capital has agreed to acquire flexible packaging company ProAmpac from private equity firm Wellspring Capital Management for undisclosed amount.
ProAmpac, which operates under Prolamina, Ampac and Tulsack brands, has earlier acquired Coating Excellence International.
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.
Employing more than 2,400 people, ProAmpac has 18 manufacturing facilities in North America, Europe and Asia.
Pritzker Group managing partner J B Pritzker 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.”
The transaction is scheduled to be completed by the end of this year.
ProAmpac CEO Greg Tucker said: “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.”
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.
