Specialized Packaging Group Inc. is living up to the company's name with the acquisition of Clark Foam Products Corp.
Clark Foam, with plants in Chicago and Louisville, Ky., makes customized packaging for a variety of markets, including medical, consumer, energy, technology, defense, equipment and industrial.
The company uses a variety of techniques to transform foam into different shapes to provide protection to products during shipment. It uses computer numeric control (CNC) cutting, water jet cutting, laminating, die cutting, heat sealing, and a process called convoluting that creates an egg crate texture.
"The addition of Clark Foam to our rapidly expanding team means we will be adding industry leading custom-engineered packaging capabilities to an operation that is already world class. Clark has been a go-to provider of protective packaging and foam fabrication solutions for over 70 years," SPG CEO Paul Budsworth said in a statement.
Clark Foam strengthens SPG's presence not only in Chicago and Louisville, but also broadly in the Midwest, Budsworth said. SPG is based near Chicago in Bolingbrook, Ill.
The deal allows Clark Foam owner and CEO Jim Clark to retire from the company founded in 1951.
"With SPG, we have found a partner that shares our vision and has the resources to accelerate our growth plans in new and existing markets. ... We look forward to taking our combined business to the next level," Clark said in a statement. vIn addition, and after building Clark Foam from the ground up, it was important to know that the company would be in good hands.
Clark Foam brings about 50 workers to SPG, which calls itself "one of North America's largest independent protective packaging manufacturers." The company, owned by Altamont Capital Partners, has made eight acquisitions since 2020.
SPG had 1,700 workers before the latest acquisition.