Sun Capital folds KubeTech Custom Molding into Coveris

By Jim Johnson
Senior Staff Reporter

Published: June 2, 2014 4:14 pm ET
Updated: June 2, 2014 4:17 pm ET

Related to this story

Topics Packaging, Mergers & Acquisitions

Sun Capital Partners Inc. continues to realign its plastic packaging operations, this time by folding KubeTech Custom Molding Inc. into Coveris Holdings.

Both KubeTech and Coveris are owned by the private equity firm based in Boca Raton, Fla.

Pittsburgh-based KubeTech has locations in Anderson, S.C., Excelsior, Mo., and Newark, Del., and provides injection molding and assembly processes.

The company is a supplier to packaged goods companies and has what it calls “primary expertise in the personal care and household product markets.”

“This action provides a significant expansion of our rigid packaging capability in North America and will help us leverage this capability in the context of the larger Coveris organization,” Coveris CEO Gary Masse said in a statement.

KubeTech CEO Steve Wirrig now will become division president of Coveris’ Rigid Packaging North America unit.

Coveris, which describes itself as the sixth-largest plastic packaging company in the world, formed in May 2013 when five companies owned by Sun Capital Partners united under a single banner, originally Exopack Holdings. Exopack changed its name to Coveris last fall.

The five companies that originally joined together were Exopack Holding Corp., Kobusch Group, Britton Group, Paragon Print & Packaging Corp. and Paccor.

KubeTech launched in early 2013 when Rexam plc sold off its home and personal care businesses. Wirrig came with the business as he was the former managing director of Rexam’s home and personal care business.

Rexam built its plastics business, in part, by purchasing Precise Technology Inc. for $275 million in 2005 and making that company part of its personal care division, Plastics News previously reported.

That personal care division ended up being sold in two parts, with Silgan Holdings Inc. acquiring Rexam’s thermoformed high-barrier food packaging business for $250 million. An affiliate of Sun Capital purchased the rest of the home and personal care business, including what would become KubeTech, for $459 million, Plastics News reported.


Comments

Sun Capital folds KubeTech Custom Molding into Coveris

By Jim Johnson
Senior Staff Reporter

Published: June 2, 2014 4:14 pm ET
Updated: June 2, 2014 4:17 pm ET

Post Your Comments


Back to story


More stories

Image

PET film maker Evertis expanding production in Mexico, Brazil, Portugal

November 20, 2014 2:52 pm ET

Evertis, a PET film maker, is expanding production at plants in Mexico, Brazil and Portugal, the company said.    More

Image

Coveris changes culture, eyes IPO

November 20, 2014 1:40 pm ET

CEO Gary Masse has a simple message, and some new math, for everyone at Coveris Holdings Corp. Get on board or get out of the way.    More

Image

Total to buy majority stake in Polyblend

November 20, 2014 10:04 am ET

French oil and gas giant Total SA will buy a 68 percent stake in Germany's Polyblend GmbH, a subsidiary of Polymer-Chemie GmbH.    More

Russian industrial film maker converting to food packaging film

November 19, 2014 9:46 am ET

Tasma, an 80-year-old Russian producer of technical industrial films which supported the USSR war effort during World War II, has assumed a new role...    More

Image

Private equity fuels acquisition market

November 18, 2014 11:52 am ET

Plastics firms and outside investors with money to spend increasingly have done so in the plastics industry for the last quarter-century — and p...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events