Algus Packaging produces blister seal machines and provides thermoformed blister and clamshell packaging for different end markets

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Mereo and Hyperion have announced the acquisition of Algus Packaging. (Credit: Reproductive Health Supplies Coalition on Unsplash)

US-based Mereo Capital Partners and Hyperion Capital Partners have announced the acquisition of Algus Packaging.

The financial terms of the transaction, which closed earlier this month, were not disclosed.

Established in 1995, Algus Packaging produces blister seal machines and provides thermoformed blister and clamshell packaging for different end markets.

Mereo Capital co-founder Leo Helmers said: “We are excited to partner with the management team of Algus to build on its history of success and invest in its future growth.

“We are attracted to Algus’ superior packaging solutions, reputation for exceptional quality and strong growth prospects.”

According to the company website, DeKalb, Illinois-based Algus has more than forty years of experience in the heat seal and thermoforming packaging industry. The company has two facilities in DeKalb.

It is engaged in providing complete packaging solutions to a blue-chip roster of customers for multiple markets. Some of the markets it serves include medical, health and beauty, electronics and food among others.

Algus Packaging chief executive officer Rod MacNeille said: “We are thrilled to have Mereo and Hyperion as our partners as we embark on an exciting new chapter in our Company’s history.

“We look forward to collaborating with them to execute on our strategic initiatives.”

Mereo is a private equity firm which invests in lower middle-market companies, while Los Angeles-based Hyperion makes control investments in North America-based firms that generate between $20m and $200m of revenue.