US – Supplier of barrier packaging services in the crop protection and chemical end markets, IPACKCHEM has acquired a majority stake in TPG Plastics LLC, a manufacturer of engineered plastic blow molded products.
The deal will enable IPACKCHEM to launch its Advanced In-Mold Fluorination technology (Advanced IMF) in North America.
TPG Plastics is a supplier of portable fuel containers and engineered blow-molded products, which are manufactured at its production site in Murray, Kentucky.
The firm’s products are said to be manufactured based on patented flame mitigation and dispensing technology.
IPACKCHEM founder and CEO JP Morvan said: “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.”
Saquib Toor, Founding Partner of Beaconhouse Capital Management, majority owner of TPG added: “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.”
Founded in 1987, France-based IPACKCHEM serves the end markets for speciality chemicals and crop protection with its specialized barrier packaging solutions.
The firm has facilities in China, India, Brazil, South Africa, the UK, Europe, and the US.
To deliver its Advanced IMF to North America and provide considerable additional capacity at TPG Plastics to facilitate its expansion, the firm intends to undertake sizeable near-term investments.
Stephen d’Incelli, Managing Director at SK Capital Partners, concluded: “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.”
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