Wellspring Capital merges Prolamina and Ampac

19 August 2015 (Last Updated August 19th, 2015 18:30)

Private equity firm Wellspring Capital Management has merged portfolio companies Prolamina and Ampac to form a new flexible packaging company.

Private equity firm Wellspring Capital Management has merged portfolio companies Prolamina and Ampac to form a new flexible packaging company.

The merger coincides Wellspring's acquisition of Ampac, which has 13 manufacturing centres in North America, Europe and Asia.

The combined company will have more than 2,000 employees and 16 facilities across the world where it will manufacture flexible packaging solutions.

"The merger brings together two flexible packing industry leaders both known for innovation, customer service and quality."

Ampac's adhesive lamination, rotogravure printing capabilities and packaging solutions will complement Prolamina's extrusion lamination and flexographic printing technology.

Wellspring Capital Management packaging sector managing partner John E Morningstar said: "The merger brings together two flexible packing industry leaders both known for innovation, customer service and quality.

"Both companies, along with their respective management teams, have a proven track record of performance and will pursue a variety of new initiatives to further enhance their product offerings, adding value to their customers' bottom line and increasing market opportunities."

Prolamina CEO Greg Tucker is supposed to be appointed as the CEO of the merged company.

Ampac produces a variety of goods such as coextruded films, laminated films, surface printed films, pouches and paper/plastic shopping bags.

Prolamina manufactures packaging products at its manufacturing facilities in North America for food, healthcare and industrial/speciality markets.