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PLZ Aeroscience scoops up Assured Packaging of Canada.

MANews-(C)2009-2012

16 May 2012 a[euro]" US speciality aerosol products manufacturer PLZ Aeroscience said it had acquired Canadaa[euro](tm)s Assured Packaging Inc without providing information on deal terms.

Assured, which is based in Mississauga, Ontario, is engaged in custom aerosol manufacturing for the health and beauty, pharmaceutical, food and household markets. Coupled with the 2011 acquisition of K-G Spray-Pak, the Assured deal transforms PLZ into the top Canadian custom aerosol filler and the most diversified one, the buyer said.

Rob Theroux, division manager of PLZ Aeroscience Canada, described the transaction as a particularly strategic one. It will allow the company to apply its rigorous quality and research standards to the personal care and over-the-counter markets, mirroring the practices it has followed in the speciality aerosol space, Theroux stated.

PLZ said that the continued support of US private equity group Olympus Partners had made it possible to pull off the Assured deal. The Connecticut-based firm specialises in funding for management buy-outs at mid-market companies and for businesses in need of expansion capital. Olympus Partners makes long-term investments in a variety of industries, among them healthcare, financials, consumer products and business services.

Manu Bettegowda, a partner at the private equity group, said that the Olympus team was excited about the acquisition, which gives PLZ a solid presence in the household and personal care segments. The deal will help PLZ sustain its growth in the custom aerosol packaging business, Bettegowda added.Country: CanadaSector: Consumer ProductsTarget: Assured Packaging IncBuyer: PLZ AeroscienceType: Corporate acquisitionStatus: Closed

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Publication:M & A Navigator
Date:May 15, 2012
Words:254
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