Silver Spur has expertise in offering glass bottles for nutraceutical and pharmaceutical applications
Meridian General Capital has divested glass and plastic packaging business Silver Spur. (Credit: Gerd Altmann from Pixabay)
Meridian General Capital announced that it has exited its investment in US-based packaging supply company Silver Spur.
The funds managed by Kelso have acquired Silver Spur, which is a stocking distributor of glass and plastic packaging products for different end markets.
The company mainly supplies glass bottles for nutraceutical and pharmaceutical applications.
With expertise in offering amber glass bottles, the company also serves customers in the food & beverage, cosmetic, and wine, beer, and liquor industries.
Silver Spur product portfolio consists of glass bottles and containers, HDPE (high-density polyethylene) packers, PET (polyethylene terephthalate) packers, as well as both child-resistant and regular fine rib closures and dropper.
The company also manufactures engineered medical/lab related products, including injectable vials and pre-filled syringes.
Meridian General founder and chairman Ravi Rao said: “The team at Silver Spur, at every level, contributed enormously to the success of the company. In the six years under our ownership, we had experienced significant changes in the global supply chain dynamics.
“Silver Spur proactively navigated through this changing environment and grew into a formidable and trusted supplier of rigid packaging products for its customers. I give much credit to the strength and resilience of the team at Silver Spur.”
Proskauer Rose acted as legal counsel for Silver Spur on the transaction, while Mesirow Financial served as financial advisor to the company.
Last month, Kelso purchased a majority stake in rigid packaging solutions distributor C.L. Smith for an undisclosed sum.