Creo Group Inc. has made an acquisition only three months after being formed.
Kissimmee, Fla.-based Creo has purchased United Solutions Inc., an iconic 105-year-old injection molder based in Leominster, Mass. No purchase price was disclosed. Creo is a horticulture packaging maker owned by private equity firm Mill Point Capital LLC of New York.
United Solutions is a producer of totes, storage containers and other household products. The firm traces its history to 1919 when Eugene Tourigny founded United Comb & Novelty Co. in Leominster.
United Solutions' annual sales were estimated at $105 million in Plastics News' most recent ranking of North American injection molders. The firm had been owned by investment firm Camber Holdings of Boston since 2018. Prior to that sale, United was owned by Walter Zephir Jr., grandson of its founder.
In a news release, Creo officials said the acquisition aligns with their firm's commitment to sustainability and innovation. It also expands Creo's product offerings beyond horticulture and into home goods.
They added the deal will allow Creo to grow across multiple markets and geographies.
As part of the transition, United Solutions CEO Dave Reilly will become CEO of Creo. Mill Point Executive Partner Justin Smith had served as Creo's interim CEO and will continue as executive chairman of the board.
Reilly had been United Solutions CEO since 2020. He has previous experience at Apple, Hasbro and other firms. Officials described Reilly as "a seasoned executive with a proven track record of high-performing and collaborative teams that drive toward a customer-centric focus."
United Solutions' family of brands includes Rubbermaid. It purchased the Rubbermaid totes business from Newell Brands in 2017. The firm's products are sold into paint, consumer storage, pet and lawn and garden markets.
Creo was formed in June from previous Mill Point acquisitions Nursery Supplies Inc. and Summit Plastics Co. Creo then rebranded Summit as Creo Greenhouse, a division within the group, to focus on the greenhouse market.
Creo offers blow molding, pressure forming, injection molding, vacuum forming, custom printing and in-house resin recycling. The firm has a combined annual recycling capacity of more than 150 million pounds.