The Sterling Group, a middle market private equity firm, has acquired US-based securement packaging solutions provider Polychem for an undisclosed sum.
Polychem is engaged in the manufacturing of polyester (PET) and polypropylene strapping consumables, securement equipment and related products for the customers in the food and beverage, consumer packaged goods, and industrial industries.
Based in Mentor of Ohio, Polychem also produces and markets a range of securement packaging equipment to complement its consumable offerings.
Polychem operates a PET recycling facility that processes bales of post-consumer PET and converts them for use in Polychem’s strapping extrusion lines, as well as for external sale to consumer packaged goods companies.
The company produces strapping equipment for all industries and applications. Its strapping equipment features advanced seal head technology, long wearing parts and better to ensure safety with maximum speed and efficiency.
The firm offers suitable strapping systems for the metal, paper, aluminum cans or glass, polypropylene or PET bottles. Polychem provides two basic can and bottle machines.
Polychem’s corrugated unitizer secures loads using plastic strap to optimize production and enhance product’s appearance.
The company’s lumber press secures loads of lumber, plywood and particle board with AAR approved 5/8” polyester strap to enhance production efficiency and reduce cost.
Polychem also produces SV5000C fully automatic strapping machine, which can be used for cut paper and plastic totes. The SV5000C features an advanced motor technology that provides high speed tamper proof security.
The SV5000C fully automatic strapping machine can handle cartons/totes up to 100 lbs. It is also provided with variable speed conveyor and quick adjust castors.
The Sterling Group partner Gary Rosenthal said: “We look forward to working with Polychem to continue to build on the company’s long history of successfully serving customers with quality products and innovative securement solutions.”
Sterling Group has already invested in various packaging firms such as Liqui-Box, Exopack and Saxco.
With more than $1.9bn of assets under management, The Sterling Group is said to target controlling interests in basic manufacturing, distribution and industrial services companies.