MINNEAPOLIS (Oct. 28, 1:30 p.m. ET) — Advanced Web Technologies LLC, based in Minneapolis, recently acquired the assets of US Converting Inc., a wide-web flexible packaging converter.
Advanced Web plans to retain all of US Converting's employees and to keep the firm's South Elgin, Ill., plant.
“We're very excited about the acquisition. They're a great group of people with a strong culture with a focus on the customer and that's what attracted us to them,” said Advanced Web CEO Kips Colwell, in a telephone interview.
Colwell said US Converting “will retain the same name and location with the intention of expanding in that location.”
He said the two companies have some synergies in that they do business in the medical markets and other areas. US Converting has more wide-web flexible packaging capacity, he said, and “their business has a nice growth track record.”
Advanced has one wide-web press, with 14 presses in all, including two digital presses. It is a pressure sensitive label and flexible packaging converter that serves the medical device, original equipment manufacturer, prime and specialty markets. Advanced has 130 employees working at its 120,000 square foot facility. The company was started in 1976.
US Converting has 30 employees and three presses. It formed in 1985.
“We are very excited about joining Advanced Web. The business philosophies between the two companies are very similar and we anticipate great things to come from this new venture. I believe our employees, customers and suppliers will all benefit,” said Mike Gallagher, general manager of US Converting, in a statement.
Colwell said that even though Advanced Web has a national presence in the medical device industry, this deal should help give the firms more exposure.
“We want to continue to work with their rep houses, although we'd like to cross sell in accounts that it would beneficial to both sides,” he added.