New York — Fresh off its investments in other plastics companies, private equity firm Kelso & Co. LP is acquiring plastic and glass packaging distributor Silver Spur Corp. of Cerritos, Calif.
Kelso said it will retain the current management team at Silver Spur, which has a 115,000-square-foot warehouse in Cerritos. Silver Spur serves a variety of end markets, specializing in glass bottles for nutraceuticals and pharmaceuticals. It also provides caps, closures and design services. Terms of the deal were not disclosed.
New York-based Kelso said May 14 it will combine Silver Spur with its recent packaging acquisitions, Inmark Inc. of Austell, Ga., and C.L. Smith Co. of St. Louis. The Smith deal included its Lyons Blow Molding Inc. unit in Berkeley, Mo.
"The combination of Silver Spur with C.L. Smith and Inmark will improve our product availability [and] expand our geographic and end-market coverage," Alec Hufnagel, Kelso managing director, said in a news release.