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

Bemis' product strategy paying off with record earnings per share

July 24, 2014 2:56 pm ET

Bemis Co. Inc. is feeling good about itself these days as the flexible packaging and pressure sensitive materials firm is posting record earnings per ...    More

PetStar doubles capacity at Mexico recycling facility

July 24, 2014 2:10 pm ET

Mexican recycling giant PetStar SAPI de CV, owned by the System of Coca-Cola Bottlers in Mexico, has doubled the capacity of its facility to 130...    More

Meredian merging with Danimer Scientific

July 24, 2014 1:59 pm ET

Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.    More

Image

Injection molder, recycler Polyvulc USA puts itself up for sale

July 24, 2014 12:41 pm ET

Fred Farrell and Larry Lambiotte, founders of Polyvulc USA Inc. and its subsidiaries Polyvulc Tire Recycling Llc and Winnsboro Rubber Recycling LLC,...    More

Image

Sealed Air moving headquarters, 1,200 jobs to Charlotte, N.C.

July 23, 2014 2:06 pm ET

Sealed Air Corp. — which is known for its Bubble Wrap brand — is moving its headquarters from Elmwood Park, N.J., to Charlotte, N.C., and ...    More

Market Reports

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

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

More Events