ITW buys stretch-wrap equipment firm
GLENVIEW, ILL. - Illinois Tool Works Inc. of Glenview has expanded its stretch-wrap equipment stable with the purchase of Yellow Jacket LLP for undisclosed terms.
The business has been combined with ITW-GaleWrap of Douglasville, Ga. ITW moved Yellow Jacket from Marion, Ind., to Douglasville soon after it bought the private business Aug. 31.
Yellow Jacket has developed equipment for orbital lock-down stretch-wrap technology that secures pallet loads. It is suited to standard loads as well as odd-shaped and other unconventional loads. ITW-GaleWrap claims orbital stretch wrapping eliminates the need for hand wrapping, cutting down on injuries hand wrapping can cause.
``The Yellow Jacket acquisition is a great fit for us,'' said Will Trantham, ITW-GaleWrap general manager. ITW-GaleWrap markets GaleWrap oriented film and related equipment as an alternative to hand wrapping of pallets.
Aquarius adopts Jain Irrigation name
ONTARIO, CALIF. - Plastic irrigation products manufacturer Aquarius Brands Inc. will change its name to Jain Irrigation Inc., effective Oct. 1.
Aquarius of Ontario is making the change to reflect it is part of Jain Irrigation Systems Ltd. of Jalgaon, India, which bought Aquarius in early 2007.
``We want to send a clear message to the market that we are an integral part of this larger organization,'' said Aquarius President Dave Abrams in a Sept. 18 news release. ``We will continue to promote our strong brands, including API, Pepco, Chapin and Acu-Drip, just under a new umbrella organization.''
Aquarius recently announced it is moving its Ontario production to its Fresno, Calif., plant.
Jain's global operations include irrigation, plastic pipe and sheet, and food products. It has sales of more than $350 million.
Blitz USA under private equity ownership
MIAMI, OKLA. - Consumer products firm Blitz USA Inc. is under a new ownership group headed by New York private equity company Kinderhook Industries LLC.
The group includes Miami-based Blitz's president, Rocky Flick, who also became chief executive officer following the Sept. 21 deal, and several members of the management team. Kinderhook holds the majority stake in the ownership group.
Blitz's flagship products are cherry-red plastic gasoline containers, a business it entered when the company was established in 1966. It claims to be the biggest U.S. producer of the containers. Most of its fuel containers are plastic, but it also makes metal types. It since has branched into oil-change accessories, vehicle lifting systems such as ramps and chocks, and ice scrapers, shovels and other winter-care accessories.
The firm's pet division, now called Bergan LLC, was not included in the deal and carries on as a separate business.
Blitz founder John Elmburg sold Blitz and has retired. Flick pledged to keep Blitz operating in Miami.
Kinderhook manages $470 million in committed capital. Its portfolio includes investments in pharmaceutical packaging machinery, industrial products, superabsorbent polymers, rubber products and injection molded towel dispensers.
Grafix relocation doubling HQ plant
CLEVELAND - Film converter Grafix Plastics is more than doubling the size of its headquarters and production operations with a three-mile move to a plant in Maple Heights, Ohio.
``Our business is growing. We're expecting to add more services to our converting, carry more inventory, and add more sales and services,'' said Jordan Katz, president of the firm's Industrial Division.
Katz said the company purchased a 43,000-square-foot facility and has refurbished it. Grafix, founded in 1963, is relocating from 20,000-square-foot building in Cleveland. The move will begin Oct. 1 and should be completed in two weeks.
Katz said the new plant will have a clean room so Grafix can continue to expand its optical-film line. The plant also provides opportunities to expand the firm's other film services.
The Industrial Division stocks commodity and specialty plastic sheet, including Mylar polyester film and rolls. It converts and supplies film to original equipment manufacturers and to plastic and industrial distributors. The Consumer Division sells plastic film and Mylar rolls through retail art and craft stores.