US-headquartered companies Action Point and Signature Flexible Packaging are set to merge and create a premier flexible packaging platform.
The combination follows after an affiliate of global alternative investment firm H.I.G. completed growth investments into the two firms.
Action and Signature specialise in printing, conversion and supply of roll stock, pouches, and bags for flexible food and consumer packaging applications.
The two companies operate three facilities in three Californian cities, including Carson, City of Industry, and Commerce.
H.I.G. managing director Ryan Kaplan said: “We believe the combination of Action and Signature represents an ideal opportunity to create a premier flexible packaging platform at a time when market tailwinds such as changing consumer preferences (e.g., convenience, on-the-go consumption) and shifts to lower-cost packaging should continue to drive growth.
“We look forward to supporting Howard, Adrian, Federico, and their respective management teams as they continue to broaden their customer base, product offering, geographic reach, and service capabilities through the company’s next exciting phase of organic and inorganic growth.”
Following the merger, Action and Signature will serve as a full-service flexible food and consumer packaging solutions provider.
To complete this investment, H.I.G. will establish a partnership with Action CEO Howard Applebaum, Signature CEO Adrian Backer and Action EVP Federico Giacobbe, as well as the current management team, to provide capital and resources.
Signature CEO Adrian Backer said: “The company has numerous opportunities to expand and H.I.G.’s capital and resources, particularly around M&A, will help us continue our successful growth trajectory.”