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Cleveland Plastic Films has been acquired by Clondalkin Group

Nov 23, 2009 | Industry Industrial, Transaction Sell-Side Advisory

Clondalkin Group (“Clondalkin”), an international producer of flexible and specialist packaging products, has acquired Ohio-based Cleveland Plastic Films (“Cleveland”), a leading producer of customized and highly engineered flexible plastic films. Founded in 1963, Cleveland Plastic Films is a leading producer of single- and multi-layer extruded plastic films and bags for the food, industrial, retail, mining, pharmaceutical, automotive, agricultural and banner film industries in Elyria, Ohio. Cleveland’s product offering includes a wide range of proprietary banner films developed in-house, including the certified self-extinguishing FlameGard LiteGard™ two-sided printable banner film and FlameGard Tuflok™ one-sided printable banner film.

The acquisition expands Clondalkin’s North American industrial and institutional plastic packaging portfolio of specialist producers, which includes Accutech Films based in Coldwater, Ohio, Direct Plastics based in Orangeville, Ontario, Canada and Fortune Plastics, which has multiple production facilities in Connecticut, Tennessee, Illinois, Florida and Arizona. Headquartered in The Netherlands, Clondalkin Group is an international producer of high-value-added packaging products and services with over 40 production locations in 10 different countries throughout Europe and North America and annual sales in excess of $1.2 billion a year.

Jim Hendershot, Cleveland’s CEO, stated: “Joining Clondalkin Group is a very positive development for our employees and customers alike. Clondalkin Group is a fantastic collection of quality- and product development led businesses with multiple plastic packaging plants in Europe and North America producing specialist films engineered to customer applications. It offers us a unique platform as well as technical support to build on Cleveland’s proud record of product development and innovation.”

Cascade Partners (BlueWater Partners) served as the exclusive financial advisor to Cleveland Plastic Films.

Update: BlueWater Partners has joined Cascade Partners. Read more here.

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