Both of the acquired companies specialize in manufacturing flexible rollstock and pre-made pouches used in cleanroom environments. C-P is a longstanding portfolio company of First Atlantic Capital, a New York based private equity firm. Terms of the transaction were not disclosed.
This acquisition provides C-P with expanded geographic reach on the West Coast and expertise in medical device, biopharmaceutical, electronics and semiconductor packaging. Fruth Custom Packaging and Cleanroom Film and Bag had common ownership with a long history of success. Manufacturing capabilities include several levels of cleanroom environments with in-house blown film extrusion, flexographic printing, specialty bag making and slitting. Distribution capabilities include a national network of specialty supply partners and a platform for e-commerce sales.
“We are delighted to welcome the leadership team and employees of Fruth and Cleanroom Film and Bag to our C-P family. With the global focus on health and wellness as well as the growth in semi-conductor demand for technologies like 5G, we see significant additional growth opportunities for Fruth’s sophisticated cleanroom packaging materials,” said Mike Hoffman, CEO of C-P.
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According to Jim Fruth, President of Fruth Custom Packaging and Cleanroom Film and Bag, “We have always tried to provide value to our customers while delivering the highest quality, proof of traceability and zero defects. We are excited to join C-P, a company with strong manufacturing expertise and customer focus. We look forward to using our combined strengths to expand our reach throughout North America”.
“Our strategic plan was to help create a flexible packaging organization with coast-to-coast presence and a broad portfolio of products. The acquisition of Fruth, with its strong technological capabilities and West Coast location, represents an important step in achieving our goal”, stated Roberto Buaron, Chairman of First Atlantic Capital.
Emilio Pedroni, Managing Director of First Atlantic Capital stated, “This investment not only allows C-P to extend its footprint to the West Coast but it also gains access to additional high-growth markets. We are committed to supporting the C-P team as they expand their vision for the future”.