'Tis the season for mergers and acquisitions.
With 2020 creaking its way toward an end (finally), we're seeing a lot of companies announcing acquisitions. Just this week, we've had M&As from Singapore-based medical molder Sunningdale buying Arizona's Moldworx for its first U.S. production, Graham Partners buying Berry Global Group's flexible packaging converting business, ProAmpac picking up three Canadian companies with the purchase of umbrella company Rosenbloom Groupe, Spectrum Plastics Group adding PeelMaster Medical Packaging to its portfolio, an Israeli private equity company purchasing StePac L.A. LLC as the platform for future acquisitions, PPC Flexible Packaging acquiring Custom Poly Bag Inc. and the plastics-adjacent research industry acquisition of IHS Markit by S&P.
That isn't necessarily unusual. Every year companies push to complete acquisitions before the end of the fiscal calendar. This year is different because travel shut down acquisition-related visits, but they did not stop. Moldworx founder and owner Jim Taylor noted that Sunningdale continued its research into the company via the internet.
"It was unreal," Taylor told Don Loepp. "All the rest of the contact was via phone, email, video conferencing. The group from Singapore still can't travel. As a matter of fact, we have moved into a new facility that they have only seen through video."
So one thing is clear: Expect to hear more M&A news in the coming few weeks, even in an unusual year.