Fleetwood-Fibre Packaging & Graphics Inc., a maker of thermoformed plastic packaging, has a new owner.
The City of Industry, Calif.-based company has been sold to Golden West Packaging Group LLC, a unit of Lindsay Goldberg, a private equity firm.
Fleetwood-Fibre dates to 1952 and makes a wide variety of packaging, including corrugated, point-of-purchase displays, folding cartons and plastic thermoformed products.
Major industries served by the thermoforming operations include cosmetics, electronics, mobile accessories, promotional gifts and club store programs, Fleetwood-Fibre said.
"It enables us to further enhance our manufacturing infrastructure and production efficiency. By providing access to ample capital and Golden West's expertise in building high performance packaging company, the future is bright," the company said about the deal in a joint statement attributed to CEO John Webb and President Brad Jordan.
Webb is retiring, but Jordon is remaining with the company.
Along with its City of Industry site, located about 35 miles from the Port of Los Angles, the company also has warehousing in Tijuana, Mexico. The company has a division in Dongguan, China, called Impact MFG.
The company, on its website, calls itself "one of the fastest growing thermoformers of plastic product packaging in the U.S. and Asia."
Golden West, a holding company, was created last year for Lindsay Goldberg's investments in packaging.
Mesirow Financial was the financial advisor to Fleetwood-Fibre, which was founded in 1952.