Commerce, Calif. — In a deal between companies that make products used by collectors, Ultra PRO International LLC has purchased Air-Tite Holders Inc.
Commerce-based Ultra PRO announced the deal Nov. 3. Terms were not disclosed.
Air-Tite Holders was founded in 1980 by Norman Therrien, a former GE Plastics executive. The company has a manufacturing facility in North Adams, Mass., that injection molds acrylic coin holders, and converts, prints and assembles custom presentation boxes.
"Starting with our dad and after two generations, we're extremely proud of what we've built," Glenn Therrien, president of Air-Tite Holders, said in a news release. "With Ultra PRO's deep manufacturing experience, we are confident that as my family and I look towards retirement, Air-Tite has the right partner to step into its next phase of growth."
Ultra PRO also sells products used by collectors. Its SP Images division is a retail distributor of trading cards, replica helmets and other collectibles. Its Entertainment division publishes and distributes board games and electronics toys, while its TableTopics division offers a variety of conversation starter cards.
"As we studied adjacent growth markets, we prioritized numismatics for its stability, longevity, and obvious opportunities to leverage our core competencies in manufacturing, distribution and multichannel sales strategy," Ultra PRO President Jay Kuo said in the release.
Ultra PRO is a privately held, family-owned company with a manufacturing plant in California and warehouses in Ohio and Belgium.
Ultra PRO plans to continue operating Air-Tite's North Adams facility, retain all current Air-Tite employees, and initiate capacity expansion projects.
"We're very fortunate to continue the 40-year legacy created by the Therriens. Furthermore, we are excited for this opportunity to add domestic injection molding capabilities, giving us flexible manufacturing options as we navigate through supply chain obstacles standing in the way of growth," Kuo added.
Investment banking firm MBS Advisors of Florence, Mass., represented Air-Tite in the transaction.