Private investment firm Graham Partners has agreed to acquire US-based flexible packaging manufacturer, Advanced Barrier Extrusions (ABX), for an undisclosed sum.
Based in Rhinelander of Wisconsin, ABX is engaged in the production of high barrier forming web films primarily for the North American protein, cheese, and specialty food end markets.
The firm provides multi-layer forming webs and vertical rollstock materials for food packaging and industrial packaging products.
ABX’s primary material blends include Nylon (NY), Polypropylene (PP), Ethylene Vinyl Alcohol (EVOH), Linear Low Density Polyethylene (LLDPE), Metallocene (MET), and Surlyn (Ionomer).
The company’s engineered materials are available with various properties, which will be used to offer protection and extend shelf life for the products.
They can be used in various applications, including vacuum packaging, modified atmosphere packaging (MAP) and high pressure pasteurization (HPP).
Graham Partners senior managing principal Steven Graham said: “ABX is a strategic fit for Graham Partners due to our historical packaging expertise and operating know-how in the industry.
“Additionally, the combination of strong underlying conversion trends driving demand for high barrier packaging and the company’s nimble operations position it well to capitalize on growth opportunities.”
ABX’s multi-layer cast films are said to require a high level of manufacturing complexity and plays a significant role in shelf life extension, spoilage reduction and food safety.
The company supplies a diverse base of technically complex and custom film products to different high growth customers.
Graham has invested in ABX, following the identification of flexible packaging as a better investment niche within the packaging industry.
Graham has also noted that ABX is the third platform investment that it has closed in 2018 and has been sourced out of its targeted investment theme program.
ABX president and co-founder Tony Haug said: “Graham’s experience in the industry and deep bench of operating resources distinctly qualifies them to partner with our team to grow the business.
“We believe the future is bright for ABX and look forward to collaborating with the Graham team to build ABX into a leading national flexible packaging provider.”