Both firms now plan to acquire rigid plastic container manufacturers and offer better customer service, new customer partnerships, and expanded offerings to existing customers
Chicago-based private equity firm Shore Capital Partners has signed a partnership and agreed to invest in rigid plastic packaging maker Container Services (CSI).
Under the partnership, Shore will invest in the business development, sales and marketing, and operational infrastructure of CSI to scale its growth.
Hillsboro, Kansas-based CSI is a custom blow moulder of rigid plastic containers for the speciality food and beverage, household goods and automotive sectors.
The business, founded in 1991, has experience working with post-consumer recycled plastic resins and specialises in producing PET (polyethylene terephthalate) and HDPE (high-density polyethylene) blow-moulded plastic containers.
In total, CSI has more than 100 employees and over 150,000 sq. ft. of manufacturing space to provide sophisticated, innovative and reliable plastic packaging solutions.
CSI CEO Brent Driggers said: “I am extremely proud of what our team has accomplished at CSI.
“Our partnership with Shore Capital will enable us to invest further in our team and continue improving our production capabilities.
“Most importantly, this partnership with Shore ultimately enables us to better serve our customers.”
Both firms will work to support growth through acquisitions of rigid plastic container manufacturers as well as by offering better customer service, expanding offerings to existing customers and establishing new customer partnerships.
Upon completion of the deal, Katie Bush joined CSI’s management team as staff chief, while Ryan Drews joined as strategic initiatives vice president.
Shore Capital partner Richard Boos said: “We are very excited about partnering with CSI. Brent and his high-calibre team have built an incredible company with an excellent reputation in the rigid plastic packaging sector.
“We look forward to providing the CSI team with resources to help the company to grow bigger, stronger and faster.”
The food and beverage, healthcare, and business services sectors are the main areas for Shore Capital’s microcap investments.
The business maintains offices in Nashville, Tennessee, in addition to its headquarters in Chicago, Illinois.