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

Brown signs California's plastic bag ban into law

September 30, 2014 1:38 pm ET

Gov. Jerry Brown (D) made it official today: plastic bags are banned across the entire state of California.    More

Image

Teens put a cap on watery ketchup

September 30, 2014 1:57 pm ET

Whether you spell it ketchup or catsup, use it on burgers or fries, or prefer Heinz or Hunt's, there is one universal problem for the ages: That...    More

Image

RJG buys UK training group G&A

September 30, 2014 11:10 am ET

G&A Moulding Technology Ltd., a United Kingdom-based training and consultancy group, has been bought by RJG Inc., the U.S.-based training business.    More

Image

Amcor planning more growth in Asia

September 30, 2014 10:24 am ET

Flexible packaging firm Amcor Ltd. is rapidly expanding its presence in the Asian market. The company's top official in the region said it will soon...    More

Image

Uflex to build large flexible packaging plant in western India

September 30, 2014 10:01 am ET

Flexible packaging company Uflex Ltd. is planning a major new plant in the western Indian state of Gujarat.    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

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

More Events