IPACKCHEM Acquires TPG Plastics LLC to Bring its Barrier Packaging to North America
5.10.2022 13:00:00 CEST | Business Wire | Press Release
Today, IPACKCHEM Group (“IPACKCHEM”) announced it has acquired a majority stake in TPG Plastics LLC (“TPG”), a leading manufacturer of engineered plastic blow molded products, to bring IPACKCHEM’s Advanced In-Mold Fluorination technology (“Advanced IMF”) to North America, with an initial focus on the crop protection market for the 2023-24 growing season.
Founded in 1987, IPACKCHEM is a leading global supplier of innovative and specialized barrier packaging solutions that service the crop protection and specialty chemicals end markets. IPACKCHEM’s leading market positions are further underscored by its strong sustainability orientation and 100% recyclable plastic barrier packaging. It currently has facilities across Europe, the UK, China, India, Brazil, and South Africa.
From its state-of-the art manufacturing facility in Murray, Kentucky, TPG is a premier supplier of portable fuel containers and engineered blow molded products. TPG has industry leading expertise in the highly regulated portable fuel container market and its products use patented flame mitigation and dispensing technology to ensure the highest levels of product safety.
JP Morvan, founder and CEO of IPACKCHEM, commented, “We are extremely excited to partner with TPG Plastics, which has established a high-quality business, and look forward to producing our Advanced IMF barrier packaging in their world-class plant ideally located in Murray. This transaction is an important step for IPACKCHEM to deliver on our promise to serve our international customers from a truly global manufacturing footprint. We plan to supply the North American crop protection market as of the 2023-2024 season, while continuing to expand TPG’s existing customer base. IPACKCHEM’s presence in Murray will also open opportunities to expand our offering to other customers in Life Enhancing Chemical segments, including those we currently serve on other continents.”
IPACKCHEM plans to make significant near-term investments to bring its Advanced IMF to North America and add meaningful incremental capacity at TPG to support expansion.
Saquib Toor, Founding Partner of Beaconhouse Capital Management, majority owner of TPG said, “IPACKCHEM is the ideal partner for TPG to support its next phase of growth. We are excited by JP’s commitment to not only grow TPG’s existing customer base and end-markets, but also to invest in our Murray facility to launch IPACKCHEM’s innovative barrier technology to North America to serve the attractive crop protection market. The TPG management team looks forward to working with IPACKCHEM to bring this vision to fruition.”
Stephen d'Incelli, Managing Director at SK Capital Partners, added, “When we partnered with JP and the IPACKCHEM team, we were excited about the unique opportunity to leverage their best-in-class barrier technology to support the company's continued global expansion. Following IPACKCHEM’s 2021 acquisition in India, this partnership with TPG represents a critical step in achieving this objective in the highly attractive North American market."
About IPACKCHEM
Headquartered in Paris, France, IPACKCHEM is a leading global manufacturer of innovative rigid plastic packaging products (containers, bottles, jerrycans) for crop protection and other key market segments including pharmaceutical, animal health, laboratory and flavors & fragrances.
The Company’s safe, secure and sustainable UN-approved, packaging solutions enable users to safely transport and distribute “hard-to-hold” and hazardous chemicals while adhering to stringent regulations. IPACKCHEM currently operates through 11 production facilities, employs ~1,300 people and serves ~1,200 customers in 35 countries. IPACKCHEM carries an EcoVadis Platinum rating.
For more information, please visit www.ipackchem.com.
About SK Capital Partners
SK Capital Partners is a private investment firm with a disciplined focus on the specialty materials, specialty chemicals, and pharmaceuticals sectors. SK Capital’s portfolio of businesses generates revenues of approximately $16 billion annually, employs more than 20,000 people globally and operates 203 plants in 32 countries. The firm currently has approximately $6.6 billion of assets under management.
About Beaconhouse Capital Management
Beaconhouse is a private investment firm focused on transformational equity investments in the lower middle market. Its investors include prestigious university endowments, family offices and industry leading executives.
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Contact information
Victor Lusvardi
victor.lusvardi@ipackchem.com
Laura Norup-Boyer
laura@blackbeanmarketing.com
Phil Nunes
phil.nunes@backbaycommunications.com
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