Omaha, Neb.-based film and substrate supplier StockPKG has acquired Columbus, Ohio-based film converter United Converting Inc., effective May 18.
The new capabilities acquired in the UCI deal will be a key component of StockPKG's plastic films division, which it plans to ramp up with a new sales force and website to highlight its variety of plastic films, a May 18 news release said.
StockPKG plans to aggressively grow the business with a series of similar acquisitions and expansions, said Sean Rudner, president and founder of the company.
"With the acquisition, this will give us the opportunity to start to compete in the mid- to narrow- web flexo/lamination converter market as well as supply films for automated equipment that use narrow-web [biaxially oriented polypropylene]," Rudner said in an email to Plastics News.
StockPKG will take its operations from eight hours a day, five days a week, to 24-hour days, five days per week, he said, adding that it expects capacity to increase by 10 times over the next 18 months.
"This is the first of many future manufacturing sites we're planning to use as an integral growth mechanism for StockPKG," Rudner said in the release. "We only acquire businesses which we know will add substantial value to our customers, employees and brand. We purchased UCI because we felt they had good people with similar values, which fits nicely into the culture of StockPKG."
UCI's team will stay intact, he said, adding: "Everyone at UCI brings a tremendous amount of value."
"We are looking forward to joining and growing with the StockPKG family," John Malaby, president of United Converting Inc., said in the release. "With the knowledge and slitting experience that UCI will bring to StockPKG, and the vast resources that StockPKG has, combined we will be a great resource for the industry."
"Procuring an experienced, high-quality company such as UCI, who was once a contracted partner of StockPKG, allows for more control of the overall manufacturing process and strengthens the StockPKG commitment to efficiency and service," the release said.