IPackChem, based in Paris, said Oct. 5 the company plans to introduce its in-mold fluorination approach with an initial focus creating containers for crop protection products starting next year. TPG makes blow molded containers, including fuel containers, in Murray, Ky.
"This transaction is an important step for iPackChem to deliver on our promise to serve our international customers from a truly global manufacturing footprint," CEO J.P. Morvan said in a statement. "We plan to supply the North American crop protection market as of the 2023-2024 season, while continuing to expand TPG's existing customer base."
Adding the Murray site gives iPackChem the company's first location in the United States to go along with existing facilities in Europe, Asia, Africa and South America.
The move to acquire a majority of TPG comes after iPackChem, itself, was sold in April 2021 to private equity firm SK Capital Partners LP by French private equity firm Sagard Holdings ULC.
"IPackChem is the ideal partner for TPG to support its next phase of growth. We are excited by J.P's commitment to not only grow TPG's existing customer base and end-markets, but also to invest in our Murray facility to launch iPackChem's innovative barrier technology to North America to serve the attractive crop protection market," said Saquib Toor, founding partner of TPG's majority owner Beaconhouse Capital Management, in a statement.
IPackChem has 11 manufacturing sites with 1,300 employees and 1,200 customers in 35 countries, the company said.
The company expects to make investments in the Murray location to not only increase production capacity but also bring in-mold fluorination technology to the site. Fluorine is introduced to the inside of bottles during the high density polyethylene extrusion blow molding process. The fluorine creates a chemical modification on the inner surface that serves as a barrier. The bottles still can be recycled in the normal HDPE stream, the company said.