AmerCareRoyal LLC, backed by private equity firm HCI Equity Partners, has purchased Thermosource Tooling and Manufacturing LLC.
This marks ACR's ninth acquisition since HCI invested in the company in 2014.
ACR is a supplier of disposable foodservice supplies based in Exton, Pa.
HCI is a lower middle market private equity firm and has headquarters in Washington. The company focuses on partnering with family and founder-owned companies.
"The TTM acquisition is a testament to our strategy of fostering growth through highly strategic acquisitions for our portfolio companies," said Doug McCormick, managing partner at HCI, in a news release. "We're excited about the potential TTM brings to enhance ACR's service offerings and market positioning, and we welcome the talented TTM team."
Thermosource, based in El Segundo, Calif., supplies thermoformed and flexible food packaging for foodservice, food production and grocery applications.
The addition of Thermosource expands ACR's capabilities in custom packaging solutions. Thermosource also has complementary products and customer segments to open more opportunities for ACR.
"TTM's exceptional design and engineering capabilities, particularly in unique packaging formats, complement our existing product lines and capabilities, allowing us to provide a more comprehensive offering to our combined customer base," said Scott Milberg, CEO of AmerCareRoyal, in a news release. "Bringing TTM under the AmerCareRoyal umbrella presents significant cross-selling opportunities, especially in segments where we have been seeking to expand, while also growing the product offering available to TTM's customers."
Other companies ACR has acquired include Team Three Group in February 2023, Ross & Wallace Paper Products Inc. in December 2021, McNairn Packaging in November 2019 and PrimeWare by PrimeLink Solutions Inc. in April 2018.