Ipackchem produces advanced plastic packaging products for the crop protection and speciality chemicals end markets

SK Cap

SK Capital has completed the acquisition of Ipackchem. (Credit: Gerd Altmann from Pixabay)

SK Capital Partners has closed the acquisition of French barrier packaging solutions provider Ipackchem from Sagard.

Based in Paris, Ipackchem is engaged in the manufacturing of advanced plastic packaging products such as containers, bottles and jerrycans for the crop protection and speciality chemicals end markets.

Ipackchem was established by Jean-Philippe Morvan in 1987 as a division of Air Products Group.

In a statement, Morvan said: “We are delighted to partner with SK Capital as we embark on our next phase of growth.

“We believe their speciality chemicals expertise, functional and operating resources and extensive M&A capabilities will be instrumental in building on our existing strong market positions.”

Ipackchem offers UN-approved packaging solutions, which will allow users to safely transport and distribute hard-to-hold and hazardous chemicals.

With eight production facilities and around 850 employees, the company serves up to 1,200 customers in 35 countries.

Ipackchem is said to represent SK’s second investment in the packaging sector.

SK Capital managing director Stephen D’Incelli said: “The transaction is a testament to SK’s ability to leverage our global platform to identify leading materials technologies businesses with immense commercial applications.

“We believe Ipackchem is a highly differentiated and sustainability-advantaged business with significant growth potential.

“We’ve been tremendously impressed by Jean-Philippe and the entire Ipackchem management team and we are excited to partner with them to execute our shared strategic objectives.”

Alcentra had provided acquisition financing, while Rothschild acted as M&A and financial advisor and Kirkland & Ellis served as legal counsel to SK Capital.

In January this year, SK Capital agreed to acquire a majority stake in US-based speciality thermoformed packaging solutions provider Lacerta Group.