Meridian General Capital said Tuesday that it acquired Silver Spur Corp. Financial terms weren’t announced. Cerritos, California-based Silver Spur supplies specialty glass and plastic bottles and containers to the North American market.
LOS ANGELES, March 24, 2015 /PRNewswire/ — Meridian General Capital announced that it had completed the acquisition of Silver Spur Corporation, a leading supplier of specialty glass and plastic bottles and containers to the North American market.
Silver Spur Corp serves the nutritional supplement, pharmaceutical, cosmetic, food, beverage, wine, and auto industries with its own proprietary products in every size and shape of containers used in packaging customer products. Since 1978, the company has established a strong reputation for offering high quality colored glass such as amber, cobalt blue, and green in addition to their flint glass products.
Ravi Rao, Chairman & CEO of Meridian, said, “We are glad to acquire a company that has long been recognized as a reliable partner in its customer’s critical supply chain. We intend to build a dynamic enterprise from this strong platform that has been very successful in this highly specialized business. We recognize the expertise of the long tenured staff, which is a critical asset of the company, and with the addition of key management and business development resources, we expect rapid expansion of this highly scalable business.”Ravi Rao will serve as the Executive Chairman of Silver Spur.
Silver Spur’s vast product line also includes Vials and Syringes, HDPE and PET plastic bottles, plastic caps, droppers and desiccants (silica-gel packs). They are also well known for their unique ability to design and produce varying quantities of customized containers for new product introductions. The company has an ongoing product development program to expand its offerings of new and innovative container products to support its customers in diverse markets.
Vice President and General Manager, Vivian Chu, said, “With the support, resources and guidance from the new owners, our entire team has been charged with a renewed sense of optimism and motivation. We are very confident that we will achieve the ambitious new goals we have set for ourselves.”
Silver Spur stocks over 40 million units of packaging products at its 120,000 sq. ft. facility in Cerritos, California for the convenience of its customers. The company is also able to service customers globally, as it has developed strong exclusive relationships with a variety of domestic and international manufacturers who provide high quality products at competitive prices. By offering consistent high quality customer service combined with ready and reliable supply of product on demand, Silver Spur continues to earn loyalty from its long tenured customers and new ones alike. www.silverspurcorp.com
Meridian General Capital is a Los Angeles, CA based private equity group that invests in middle market growth industries and is focused on acquiring businesses that have a history of operating profits. The firm invests in industries that it has extensive operational expertise in such as Aviation & Aerospace, Technology, Logistics & Distribution, Travel, Online Marketing, E-Commerce, Business Services and niche manufacturing. www.meridiangeneral.com
SOURCE Silver Spur Corporation