The Sterling Group, a middle market private equity firm, has purchased US-based securement packaging solutions firm Polychem for an undisclosed value.
Headquartered in Mentor, Ohio, Polychem manufactures polyester (PET) and polypropylene strapping consumables, securement equipment and related products for the food and beverage, consumer packaged goods, and industrial businesses.
The company’s PET recycling facility converts post-consumer PET for use in its strapping extrusion lines and for the sale to consumer packaged goods companies.
It also produces a range of securement packaging equipment to complement its consumable offering.
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.”
Polychem operates manufacturing and an international distribution network to offer products to more than 70 countries worldwide.
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The company’s product portfolio features a range of equipment such as plastic strapping, hooding systems and accessories.
Established in 1982, The Sterling Group acquires controlling interests in basic manufacturing, distribution and industrial services companies.
The firm has made investments in various packaging firms such as Liqui-Box, Exopack, and Saxco.
Last month, the company promoted Scott MacLaren and Franny Jones to the role of managing director.
It also promoted Max Klupchak to the role of general counsel and Claudine Lussier to the role of principal.