Specialized Packaging Group completes acquisition of Specialized Packaging Solutions
Specialized Packaging Group (SPG), a vertically-integrated provider of protective packaging products, has acquired Bay Area-based Specialized Packaging Solutions (SPS).
The acquisition will enhance SPG’s existing capability set in its Engineered Packaging division, expanding the company’s reach while adding approximately 100 employees to its 1,100-person workforce. SPS and its full workforce will continue to operate in Newark, California while founder and CEO Terry Besso will be retiring. SPG, one of the largest independent protective packaging manufacturers in North America, is a portfolio company of Altamont Capital Partners.
“The addition of SPS to our Engineered Packaging division means we will be adding world-class capabilities to an operation that is already an industry leader,” says SPG CEO Bob Lally. “With this announcement, we are excited to strengthen our presence in Northern California, which will allow us to better serve the customers of both SPG and SPS. We are looking forward to bringing the SPS team fully onboard and integrating them into a footprint that extends across North America and provides high-quality products to a diverse customer base.”
“After building SPS from the ground up, it was important to know that the company would be in good hands after I step away,” says SPS Founder and CEO Terry Besso. “SPG will continue our legacy of building strong, one-on-one relationships with customers and providing high-quality service and products. I’m grateful for a smooth and successful transaction that led to the best possible result for SPS and our employees.”