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MOSCOW (MRC) -- Specialty packaging
thermoformer Lacerta Group Inc. has been acquired by New York City-based private
investment firm SK Capital LP for an undisclosed amount, said Canplastics.
Founded
in 1993 and headquartered in Mansfield, Mass., Lacerta makes packaging primarily
for the food sector. The company offers a range of custom PET packaging
products, including a line of tamper-evident products sold under the “Fresh N’
Sealed” brand.
The company has also developed a face shield made from
PET resin for use by healthcare and retail workers. Lacerta’s co-founders, Ali
and Mory Lotfi, will remain with the company and retain a significant ownership
stake, SK Capital said in a Jan. 11 news release.
Lacerta has experienced
top-line growth of 25% annually since 2013, the news release added.
"Ali,
Mory and the Lacerta team have built an exceptional business with a
best-in-class reputation for customer service, innovation and sustainable
products,” said Jack Norris, managing director of SK Capital. “We look forward
to partnering with Ali and Mory to support the continuation of Lacerta’s
extraordinary growth. Our mutual focus is on preserving Lacerta’s
customer-centric approach, which is highly differentiated in the market, while
at the same time putting in place the required systems, processes and
capabilities that will enable the company to scale alongside its expanding
customer base."
As per MRC, SK Capital Partners completed the
acquisition of a 39.75% stake, roughly 42.4 million shares, in titanium dioxide
maker Venator from Huntsman for roughly USD100 million. The deal includes a
30-month option for the purchase of Huntsman’s remaining approximate 9.5 million
shares by SK at US2.15/share. Huntsman spun off Venator in a 2017 initial public
offering.
As MRC reported earlier,
Nanjing Jinling Huntsman, a joint venture between Huntsman and Sinopec Jinling,
planned to shut its propylene oxide plant in Nanjing (Nanjing, Jiangsu Province,
China) on November 1 for scheduled maintenance. This plant with a capacity of
240,000 tonnes/year of propylene oxide will be closed until approximately 25
November.
Propylene is the main feedstock for the production of
polypropylene (PP).
According to MRC's DataScope report, PP
imports into Russia increased by 21% year on year to about 202,000 tonnes in the
first eleven months of 2020. Propylene homopolymer (homopolymer PP) accounted
for the main increase in imports. |
