Pritzker Group Private Capital’s recently acquired ProAmPac on Monday folded in a competitor in the packaging manufacturing industry, marking the first deal of the year for the West L.A. private equity firm.
ProAmPac, a Cincinnati-based manufacturer of packaging solutions, acquired New York-based Trinity Packaging Corp. for an undisclosed amount. Pritzker Group acquired ProAmPac in October.
“The combination of ProAmPac’s management team coupled with the Pritzker Group’s reputation for long-term stewardship made them both ideal partners for the Trinity family,” Peter Freund, former president of Trinity, said in a statement.
Trinity Packaging, which specializes in large format packaging for the lawn, garden, food, and specialty markets, will keep its name and operate as a separate division within ProAmPac. The deal will add 500 employees and two manufacturing sites to ProAmPac’s 2,500 employees and 20 manufacturing centers in North America, Europe, and Asia, the company said.
With the acquisition, ProAmPac will now supply to more than 5,000 customers in 90 countries.
The Trinity deal is the Pritzker Group’s first for 2017, Pritzker spokeswoman Martha Arendt of Aileron Communications said. Last year the private equity firm increased staffing in its L.A. office, and it has invested in more than 20 L.A.-area companies over the last five years, including Dollar Shave Club, Honest Company, and Hello Giggles.
Pritzker invests in companies valued between $100 million and $750 million, according to its website.
Manufacturing and trade reporter Shwanika Narayan can be reached at firstname.lastname@example.org. Follow her on Twitter @shwanika.
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