AmerCareRoyal (ACR), a supplier of disposable foodservice materials, has acquired US-headquartered packaging solutions supplier Thermosource Tooling and Manufacturing (TTM).
TTM supplies thermoformed and flexible packaging solutions for various sectors, mainly in the foodservice industry via its multiple shipping points across the US.
The acquisition is set to provide ACR with additional product lines and customer segments, as well as enhance its branded and customised packaging solutions portfolio.
In addition, TTM’s expertise will bolster ACR’s offerings and solidify its market position.
ACR CEO Scott Milberg said: “TTM’s exceptional design and engineering capabilities, particularly in unique packaging formats, complement our existing product lines and capabilities, allowing us to provide a more comprehensive offering to our combined customer base.
“Bringing TTM under the AmerCareRoyal umbrella presents significant cross-selling opportunities, especially in segments where we have been seeking to expand, while also growing the product offering available to TTM’s customers.”
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TTM marks the ninth add-on acquisition for AmerCareRoyal since an initial investment made by private equity company HCI Equity Partners.
The financial terms of the transaction have not been disclosed.
HCI managing partner Doug McCormick said: “The TTM acquisition is a testament to our strategy of fostering growth through highly strategic acquisitions for our portfolio companies.
“We’re excited about the potential TTM brings to enhance ACR’s service offerings and market positioning, and we welcome the talented TTM team.”
The legal counsel to ACR was provided by Greenberg Traurig while Jeffer Mangels Butler & Mitchell acted as the legal counsel to ACR and TTM respectively during the transaction.