Selig Sealing Products Inc., a manufacturer of closure lining materials, has acquired Unipac, a maker of foil and plastic innerseals for packaging applications, from Illinois Tool Works Inc. (NYSE: ITW). No financial terms were disclosed. Selig Sealing is a portfolio company of Behrman Capital. In related news, Selig has secured a $125 million credit facility led by GE Commercial Finance, with funds also being provided by Madison Capital and BMO Capital Markets.
Selig Sealing Products, Inc., a leading manufacturer of closure lining materials, announced today that it has acquired the assets of Unipac, a leading producer of foil and plastic innerseals for packaging applications, from Illinois Tool Works Inc. (NYSE: ITW). Selig Sealing Products is a portfolio company of Behrman Capital, a New York and San Francisco-based private equity firm.
With operations in Canada and the United Kingdom, Unipac provides a broad selection of highly-engineered laminated liners for food, beverage, pharmaceutical, personal care, and other consumer and industrial applications. Unipac's innerseals provide enhanced product freshness and tamper-evidence to plastic containers. Unipac offers a broad portfolio of proprietary products including Lift 'n' PeelTM, Aroma PeelTM, Top-TabTM, and Safe-GardTM.
“Behrman Capital has proactively focused on the specialty packaging sector for several years, and we are excited about Selig's acquisition of Unipac, a highly regarded company well known for its product innovation and quality,” said Grant G. Behrman, Managing Partner of Behrman Capital. “Unipac's operations are highly complementary to those of Selig. Technology has driven substantial developments in this sector, and as consumer product companies look for new, innovative ways to protect the integrity of their products, the combined company will be well positioned for continued growth.”
“Unipac's product line, including its consumer-friendly Lift 'n' Peel