Conductive Containers (CCI), a manufacturer of electrostatic discharge packaging products, has announced completing the acquisition of Albuquerque, US-based company Crestline Plastics.
The transaction, which was completed earlier this month, was finalised by CCI in partnership with Great River Capital Partners (GRCP), a private equity investment company.
CCI first collaborated with GRCP in late 2021 to support its growth strategy via add-on acquisitions.
According to CCI, under the latest acquisition, there was no other intermediary involved with Crestline, as it was directly considered an ‘attractive acquisition target’ by GRCP.
CCI’s existing bank lender Salem Five Bank and GRCP were responsible for providing diligence and financing support to CCI for this deal.
Crestline is a family-owned company established in 1981.
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It specialises in designing and producing standard and custom thermoformed packaging for optical components and other precision electronics.
Crestline, which is currently owned and operated by Derek Hermann, supplies packaging and material handling solutions to more than 200 customers.
Following the latest acquisition, Crestline will now operate as ‘CCI-Crestline Division’ as part of CCI Static Holdings.
Crestline as CCI-Crestline Division will continue to operate from its existing leased facility in Albuquerque.
All Crestline employees have now joined the CCI team.
Hermann has also joined CCI as the general manager for the division.
“Through CCI, we gain access to expanded product development, engineering and sales resources. This will only help push Crestline to the next level and to serve our customers in new, creative ways,” Hermann added.
CCI CEO Brad Ahlm said: “We are beyond excited to have Derek and the Crestline team joining our CCI family!
“On a business level, Crestline has unique capabilities with its plastic enclosures and optic lens inserts that complement our CCI box, tray and tote solutions incredibly well.
“We are excited to now have a hub in the south-west to better serve key accounts in Southern California and Mexico.”