PE-backed Spectrum Plastics Group buys PeelMaster

Spectrum Plastics Group, a portfolio company of AEA Investors LP, has acquired Niles, Illinois-based PeelMaster, a converter of sterile flexible packaging to the medical device market.

Spectrum Plastics Group, a portfolio company of AEA Investors LP, has acquired Niles, Illinois-based PeelMaster, a converter of sterile flexible packaging to the medical device market. No financial terms were disclosed.

PRESS RELEASE

ALPHARETTA, Ga., Dec. 1, 2020 /PRNewswire/ — Spectrum Plastics Group – the market leading specialty medical packaging, component and contract manufacturer, has closed on the acquisition of PeelMaster Medical Packaging Corporation (“PeelMaster”).

Based in Niles, Illinois, PeelMaster is a full-service converter of sterile flexible packaging to the medical device market. Founded in 1989, PeelMaster produces pouches, header bags and die cut lids for medical applications.

PeelMaster has been an Authorized Converter of DuPont™ Tyvek® since its inception and, with the acquisition, Spectrum Plastics Group has also been granted Authorized Converter status from DuPont.

“The addition of PeelMaster advances our position as a custom, scalable flexible packaging supplier for the medical device sector. Their focus on quality and customer service fit squarely with Spectrum Plastics Group’s commitment to providing our customers with a first-rate experience,” says John Wolf, President, Films Division. “Additionally, we are very pleased to partner with DuPont as an Authorized Converter of Tyvek® to continue providing superior sterile packaging to the healthcare industry.”

Bill Sieck, President of PeelMaster, remarks, “This is a great day for PeelMaster Medical Packaging and we are pleased to join Spectrum Plastics Group. The two companies complement one another very well, and we are thrilled to have found such a partner to carry PeelMaster forward in the years to come.”

Spectrum Plastics Group is a portfolio company of AEA Investors LP, a leading global private investment firm.

About Spectrum Plastics Group
Based in Alpharetta, Georgia with multiple plants across the United States, Mexico, Costa Rica, Ireland, and Malaysia, Spectrum Plastics Group is a North American leader in the design and fabrication of custom and specialty plastics products focusing on niche, high value-added end markets, including medical, food, and defense applications. Spectrum Plastics offers a full range of custom design, engineering and fabrication services, as well as meet the requirements of ISO 9001, ISO 13485, and operates multiple Class 7 & Class 8 clean rooms. For more information, visit www.spgindustries.com , www.spectrumplastics.com or contact 404-564-8560.

About AEA Investors LP
Founded by the Rockefeller, Mellon, and Harriman family interests with S.G. Warburg & Co. in 1968, AEA Investors is a pioneer in the private equity industry with an unparalleled global network of investors, business leaders and sector-focused investment professionals. Today, AEA is a leading global private investment firm with over $15 billion assets under management, focused on private equity and debt investments in the middle market.