Clondalkin Group Holdings Ltd. of Dublin, Ireland, has expanded its North American presence with the Jan. 2 acquisition of Accutech Films Inc. of Coldwater, Ohio.
Terms of the deal, announced Jan. 9, were not disclosed.
``For about a year, we've been working on putting the transaction together,'' said Accutech President Nick Ruchty in a Jan. 7 telephone interview.
Accutech makes customized flexible plastic films for packaging and protective applications for industrial, agricultural, food and beverage markets. Ruchty did not disclose sales figures.
Accutech employs about 105 at its 60,000-square-foot Ohio complex. Ruchty expects the firm to double in size within five years.
``The employees were instrumental in the Clondalkin decision,'' he said. ``Without them, this company could not have gone as far as it has.''
Ruchty and partner Bill Barga founded Accutech in 1997. Last year, the company shipped 40 million pounds of product to clients in North America, Europe and Africa. Ruchty will remain with Accutech, while Barga has left to pursue other interests.
In a Jan. 9 news release, Clondalkin Chief Executive Officer Norbert McDermott said Accutech's growth record and strong product differentiation were key attractions for Clondalkin. With the acquisition, Clondalkin will have 10 North American and European plants making high-barrier, multilayer, printed and biodegradable plastic films for the industrial, food, beverage, retail, medical and agricultural and horticultural markets.
Clondalkin director of development Paul Hogan said the group's plans for Accutech include technology transfers between the Ohio company and Clondalkin's European businesses.
``There's opportunity to leverage that knowledge both ways,'' he said Jan. 9 by phone.
Clondalkin, which owns several companies in North America and Europe, has annual sales of more than $1.2 billion in flexible plastics packaging, paperboard boxes, labels, lids and printed packaging.
Its most recent North American buy was in 2007, when Clondalkin acquired Direct Plastics Group of Orangeville, Ontario, a polyethylene blown film extruder. Other subsidiaries include Fortune Plastics Inc. of Old Saybrook, Conn.