Specialized Packaging Group (SPG), a leading, vertically integrated provider of protective packaging products, today announced the acquisition of Monroe, Michigan-based Complete Packaging (Complete), a portfolio company of the Spell Family Office. Complete provides custom-designed packaging solutions for a diverse array of end markets, including automotive, heavy truck, energy, aerospace, defense, heavy equipment, and general industrial.

SPG, one of the largest independent protective packaging manufacturers in North America, is a portfolio company of Altamont Capital Partners. The acquisition will enhance SPG's existing capability set by expanding the company's engineered packaging offerings and geographic reach while adding approximately 90 employees to its 1,600-person workforce. Complete's leadership and full workforce will continue to operate in their current locations in Detroit and Monroe, Michigan.

"The addition of Complete Packaging to our rapidly expanding team means we will be adding industry-leading custom engineered packaging capabilities to an operation that is already world class. Complete has been a go-to provider of protective packaging solutions for over 40 years," said SPG CEO Paul Budsworth. "We are also excited to strengthen our presence in the Detroit-area and Midwest markets, allowing us to better serve our customers. We are looking forward to bringing the Complete Packaging team fully on board and integrating them into a footprint that extends across North America and provides high-quality packaging solutions to a diverse customer base."

"Over the last several years, Complete Packaging has grown rapidly by focusing on highly engineered, multi-substrate packaging solutions that enable our customers to reliably transport their most sensitive, mission-critical products," said Complete Packaging President & CEO Gregg Reau. "With SPG, we have found a partner that shares our vision and has the resources to accelerate our growth plans in new and existing markets. The Complete team is thrilled to join SPG, and we look forward to taking our combined business to the next level."

TD Cowen acted as financial advisor to Complete Packaging. Morrison & Foerster LLP acted as legal counsel to SPG.

 

Source: prnewswire.com

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