Wellspring Capital Management, New York, N.Y., USA, this week announced that its portfolio company ProAmpac, Cincinnati, Ohio, has entered into an agreement to acquire Coating Excellence International (CEI), a flexible packaging and technical products company based in Wrightstown, Wis. CEI specializes in wide web extrusion coating and laminating of film, foil, paper, board, and nonwovens and will enhance ProAmpac's already robust extrusion lamination capabilities.

ProAmpac, recently formed by Wellspring through the recent merger of Prolamina Corp. and Ampac Packaging, is a global flexible packaging company operating primarily under the Prolamina, Ampac and Tulsack brands. Together, the brands offer multiple innovative solutions in flexible packaging for the food, pet care and medical markets, along with secure packaging for the transport of cash and valuables, and retail shopping bags.

John Morningstar, a managing partner of Wellspring who leads the firm's activities in the packaging sector, said that "we are very pleased by the successful combination of Prolamina and Ampac, The leading flexible packaging company we created, ProAmpac, is ideally positioned for success and we are delighted to support the acquisition of CEI and other attractive growth initiatives the company will pursue in the future." 

Greg Tucker, CEO of ProAmpac, noted that "CEI is a great company known for innovation, service, and quality. These are also the core principles of ProAmpac's business, making the acquisition of CEI a natural step in ProAmpac's overall growth strategy. We are pleased that the addition of CEI will strengthen our ability to deliver valuable products and services for our customers."

   

"CEI's highly engaged team, manufacturing expertise, and market diversity will add to ProAmpac's extrusion competencies and existing customer base. This acquisition will create value and opportunity for partners of both organizations," said Rita Cox, president and CEO of CEI.

ProAmpac is a diversified global packaging company with over 2,000 employees and 16 manufacturing centers in North America, Europe, and Asia. CEI is a flexible packaging and technical products company specializing in wide web extrusion coating and laminating of film, foil, paper, board, and nonwovens. CEI features EB coating and laminating, wide web flexographic presses with 10-color printing with registered backside print capabilities, and offset printing up to four colors.