Altamont Capital Partners Acquires Specialized Packaging GroupJanuary 7, 2021
Altamont Capital Partners announced that it has acquired Specialized Packaging Group, one of the largest independent manufacturers of protective packaging in North America, from Paul Gaulin, the Company’s Founder. As part of the transaction, Mr. Gaulin is retiring as President and CEO of SPG, but will remain a member of the Board of Directors and a minority investor in the business.
SPG is a vertically-integrated provider of protective packaging products that operates under two divisions, IVEX and Engineered Packaging. IVEX, which has six facilities in the U.S., Canada and Mexico, manufactures a range of packaging materials, including polyethylene foam and other protective packaging products. Engineered Packaging, which is comprised of Induspac and Estapack, designs and manufactures customized packaging solutions at eight facilities in the U.S. and Mexico using a variety of materials, including polyethylene foam, corrugated cardboard and wood.
In conjunction with the announcement, Altamont Senior Advisor Pete Lane joins SPG as Executive Chairman. Bob Lally has joined the Company as President of Engineered Packaging, having served most recently as President of TransPak, and Sean Condon is continuing in his role as President of IVEX. Additionally, joining the Board of Directors will be Mark Burgess, who currently serves as CEO of Mauser Packaging Solutions.
“SPG is an established leader in the highly attractive protective packaging segment, and we are delighted to partner with the team to build on the Company’s strong foundation and track record of success,” said Randall Eason, a Managing Director at Altamont. “Together, we are confident that we will drive value for SPG’s customers, employees and other stakeholders in the months and years to come.”