Speciality plastic packaging producer PPC Industries (Pleasant Prairie, Wisconsin / USA; www.ppcind.com) has been bought by US investment group Kohlberg & Company (Mount Kisco, New York / USA; www.kohlberg.com). Financial details of the deal were not disclosed, although middle market lender GE Antares said it served as an administrative agent on a USD 160m senior secured credit facility used to support the acquisition.

Commenting on the purchase, PPC chief executive Jonathan Waldron said, “This transaction will give PPC access to capital, and it positions the company to continue to thrive in the future.” Kohlberg partner Seth H. Hollander added that the investor plans to continue to grow PPC’s business, “both organically and via acquisition”.

PPC sells a wide range of customised medical tubing as well as bags and films under its “Kelpac” brand, alongside bag and film products for the food and industrial end-markets, marketed under “PPC”. In addition to two manufacturing plants in the US, PPC also operates facilities in Costa Rica, Malaysia and Ireland.