Clearly Clean Products LLC, a thermoformer of PET food trays, has two new investors.
Austin, Texas-based Blue Sage Capital and Southlake, Texas-based Insight Equity Holdings LLC announced that they had made an unspecified investment in Clearly Clean.
Clearly Clean is based in Orwigsburg, Pa., where it has three plants. The company also has facilities in Frackville, Pa.; South Windsor, Conn.; and Naples, Fla.
The company makes patented PET trays with a smooth edge, designed to compete with polystyrene foam in applications like meat packaging.
In a March 7 news release, President Jeff Maguire said Clearly Clean will "continue to invest in sales and marketing resources, expand our manufacturing capabilities and extend our product line with innovative, sustainable packaging solutions that our customers desire."
Jonathan Pearce, partner at Blue Sage, said the private equity firm was "impressed with Clearly Clean's disruptive history, compelling value proposition, and exciting opportunities for future growth."
Blue Sage Capital did not respond to inquiry for comment by Plastics News.
Clearly Clean touts its trays as recyclable, clear, strong and lightweight.
"Clearly Clean has become a leader in the rapidly growing sustainable food tray market through its innovative 'rolled edge' manufacturing process, operational expertise, reliably consistent product quality, and customer service," Jeff Parent, principal at Insight, said.
Blue Sage also owns durable goods manufacturer All-State Industries Inc., which includes thermoforming operations and in 2022 bought Allied Plastics LLC, a Twin Lakes, Wis.-based thermoformer.