Bottle supplier Carr Management Inc. (CMI), backed by Behrman Capital, has acquired privately-held container maker Hillside Plastics Inc. Financial terms were not disclosed.
Hillside, based in Turner Falls, Massachusetts, manufactures plastic containers under the Sugarhill brand for the food, chemical, household, automotive and industries. Hillside is the first significant add-on since Behrman bought CMI, which also makes plastic bottles and containers.
“When we acquired CMI in 2014, we saw an opportunity to accelerate the company’s growth through the acquisition of other high-quality blow-molding manufacturers,” says Behrman Capital managing partner Grant Behrman.
The middle-market private equity firm, which has offices in New York and San Francisco, typically invests $25 million to $125 million in companies that have up to $50 million in Ebitda and $250 million in revenue. In August, Behrman announced the purchase by CC Industries Inc. of portfolio company Selig Sealing Holdings, which makes closure linings for the food packaging and personal care industries.
Companies that produce containers and other types of packaging continue to attract buyers. In 2015, Gerresheimer AG (FRA: GXI) added Centor US Holding Inc.; Olympus Partners bought Liqui-Box Holdings Inc.; Sealed Air Corp. (NYSE: SEE) purchased B+ Equipment.