Dazpak Flexible Packaging Completes Acquisitions of Atlapac and Inno-lok Division of Polymer Packaging
H.I.G. Capital (“H.I.G.”), a global alternative investment firm with $50 billion of equity capital under management, announced that its portfolio company, Dazpak Flexible Packaging (“Dazpak” or the “Company”), has completed the acquisitions of Atlapac and the Inno-lok Division of Polymer Packaging (“Polymer”).
Headquartered in Columbus, Ohio, Atlapac is a flexible packaging and pouch converter serving the food & beverage, homecare, and healthcare end markets. The acquisition strengthens the combined companies’ ability to provide flexible packaging solutions and services in the Midwest and will accelerate Dazpak’s entry into new products and markets.
Headquartered in Massillon, Ohio, Polymer is one of the leading converters of inno-lok pouches primarily focused on the food & beverage end market. Polymer’s assets will be merged with Atlapac post-close.
Paul Unrue, President of Atlapac commented, “We are pleased to have a growth-oriented partner in Dazpak. The combination will allow us to provide a more comprehensive suite of flexible packaging solutions to our clients in the Midwest and West Coast. This is an exciting new chapter in the Atlapac growth story.”
“We are excited about the strategic expansion of our flexible packaging offerings into the Midwestern U.S.,” commented James Rooney, Chief Executive Officer of Dazpak, adding, “Atlapac and Polymer not only allow us to expand outside our core Western U.S. markets, but also significantly expand our customer footprint and portfolio of flexible packaging solutions.”
“We are thrilled to partner with Paul Unrue and the Atlapac and Polymer teams,” said Ryan Kaplan, Managing Director at H.I.G. Capital. “These acquisitions fit perfectly into Dazpak’s investment thesis, which includes aggressively pursuing M&A to help broaden the Company’s customer base, product offering, geographic reach, and service capabilities.”
Atlapac and Polymer represent the third and fourth add-on acquisitions that Dazpak has completed since H.I.G. acquired the Company in late 2020.
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