Lacerta, which is based in Mansfield of California, offers packaging solutions for the customers in the food sector
SK Capital has agreed to acquire majority stake in thermoformed packaging solutions provider Lacerta. (Credit: Adam Radosavljevic from Pixabay)
Private investment firm SK Capital Partners has agreed to purchase a majority stake in US-based speciality thermoformed packaging solutions provider Lacerta Group for an undisclosed sum.
As per terms of the deal, Lacerta’s co-founders Ali and Mory Lotfi will continue to hold a significant ownership interest in the firm.
SK Capital managing director Jack Norris said: “Ali, Mory and the Lacerta team have built an exceptional business with a best-in-class reputation for customer service, innovation and sustainable products.”
Based in Mansfield, Massachusetts, Lacerta primarily offers advanced packaging solutions for the customers in the food sector.
The company provides a range of custom PET packaging products, including a line of tamper-evident products marketed under the Fresh N’ Sealed brand.
Lacerta is claimed to make its packaging solutions with up to 100% recycled content, as well as its majority of its products are 100% recyclable.
The company provide manufacturing services ranging from concept development, prototyping and mould making, to thermoforming, extrusion, printing and quality assurance.
Lacerta manages four facilities in Mansfield and one in Chatsworth of California. It has thermoforming machines that hold the capacity to manufacture millions of packages per year.
The firm uses CNC milling machines for mould making, while in-house prototyping thermoformers to help turn around prototypes.
In addition, Lacerta has designed a face shield made from PET resin for healthcare and retail workers.
Lacerta president Ali Lotfi said: “We chose to partner with SK Capital given its track record of successfully supporting the growth and improvement of family-owned businesses and the fit between our needs and SK’s capabilities.”
Latham & Watkins served as legal counsel to SK Capital for the transaction, while Citizens M&A Advisory acted as exclusive financial advisor to Lacerta.
In July 2020, SK Capital Partners agreed to acquire the speciality polymers business from Baker Hughes for an undisclosed sum.