The combined company will be fully integrated extruder, printer and converter and will serve customers in the US and Canada
Licaplast Industries Emballages, a producer of flexible plastic packaging, has closed the acquisition of Canada-based M’Plast, a manufacturer and converter of polyethylene products.
M’Plast is engaged in the manufacturing, impression and transformation of polyethylene film into bags or U-Film for a range of markets including horticulture, agriculture and industrial uses.
The firm also produces recyclable and degradable plastic solutions. Its specialised capabilities include heavy-duty bags and large roll stock.
M’Plast former president Roger Damdjee said: “The combination of our respective strengths will provide continuity to M’Plast’s success story.”
M’Plast’s Lachine facility to represent complimentary set of capabilities for Licaplast
Licaplast, a portfolio company of Charter Oak Equity and Fonds de solidarité FTQ, expects the M’Plast’s Lachine facility to represent a complimentary set of capabilities required to meet the needs of the growing customer base.
The flexible packaging firm noted that the combined company will be a fully integrated extruder, printer and converter. It will serve a broad array of customers in the US and Canada.
Fonds de solidarité FTQ private equity investments senior vice-president Jean Wilhelmy said: “M’Plast’s capabilities and reuse of production waste enhance Licaplast’s efforts to develop and manufacture packaging products with a reduced environmental impact. Such an approach is essential to meeting the needs of the customers in any sector.”
Charter Oak managing partner Zubin Avari said: “The two businesses are well-suited to capitalize on each other’s strengths in order to better serve the combined customer base.
“The acquisition of M’Plast builds the Licaplast platform and broadens the end markets served. With the addition of M’Plast and a new extruder and printer on order we will more than double our capacity allowing us to better serve our customers.”
Licaplast CEO Joseph Nawar said: “The acquisition of M’Plast further develops Licaplast’s unique value proposition as a fully integrated partner to its customers. M’Plast’s culture of service and dedication to quality make it an ideal fit with Licaplast.”
Licaplast is engaged in producing flexible plastic packaging, including shrink film, laminated roll stock and pouches, for food and beverage customers in the US and Canada.
Last year, Charter Oak Equity and Fonds de solidarité FTQ have announced the recapitalization of Licaplast Industries – Emballages.