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Specialized Packaging Group Completes Acquisition of Specialized Packaging Solutions


Specialized Packaging Group Completes Acquisition of Specialized Packaging Solutions

SPG Expands Capabilities and Reach in Engineered Packaging Division with Addition of Bay Area Manufacturer

NEWARK, CA – Specialized Packaging Group (SPG), a leading vertically-integrated provider of protective packaging products, announced today that the company has acquired Bay Area-based Specialized Packaging Solutions (SPS). The acquisition will enhance SPG’s existing capability set in its Engineered Packaging division, expanding the company’s reach while adding approximately 100 employees to its 1,100-person workforce. SPS and its full workforce will continue to operate in Newark, California while founder and CEO Terry Besso will be retiring. SPG, one of the largest independent protective packaging manufacturers in North America, is a portfolio company of Altamont Capital Partners.

“The addition of SPS to our Engineered Packaging division means we will be adding world-class capabilities to an operation that is already an industry leader,” said SPG CEO Bob Lally. “With this announcement, we are excited to strengthen our presence in Northern California, which will allow us to better serve the customers of both SPG and SPS. We are looking forward to bringing the SPS team fully onboard and integrating them into a footprint that extends across North America and provides high-quality products to a diverse customer base.”

“After building SPS from the ground up, it was important to know that the company would be in good hands after I step away,” said SPS Founder and CEO Terry Besso. “SPG will continue our legacy of building strong, one-on-one relationships with customers and providing high-quality service and products. I’m grateful for a smooth and successful transaction that led to the best possible result for SPS and our employees.”

About Specialized Packaging Group

Specialized Packaging Group, Inc. is a vertically-integrated provider of protective packaging products and one of the largest independent manufacturers of protective packaging in North America. The Company operates under two divisions, IVEX and Engineered Packaging. IVEX manufactures a range of packaging materials at six facilities across the U.S., Canada and Mexico, and Engineered Packaging, which is comprised of Induspac and Estapack, designs and manufactures customized packaging solutions at eight facilities in the U.S. and Mexico.

About Specialized Packaging Solutions

Specialized Packaging Solutions, Inc. began as a family-owned packaging business and now manufactures custom packaging products at a 150,000 square-foot warehouse in Newark, California. SPS is an eco-friendly manufacturer that offers “Just-In-Time” service and delivery helping to meet customers’ needs for packaging materials on their own schedule. Its products and services include corrugated containers, foam fabrication, wooden crates and shipping containers, and transit cases.

About Altamont Capital Partners

Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $2.5 billion of assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including consumer, restaurants & multi-unit, financial services, healthcare, industrials, and business services.