Alpha Packaging, a U.S. leading blow moulder of plastic bottles and jars for the nutraceutical, pharmaceutical and personal care markets, headquartered in Saint Louis, Missouri, was acquired by Irving Place Capital (IPC), a middle-market private equity firm, the two companies announced yesterday.
IPC is investing in partnership with Alpha’s current management team, led by President and Chief Executive Officer Dave Spence and Chief Operating Officer Dan Creston. IPC is buying Alpha from private equity firm Stonebridge Partners of White Plains, which acquired the company in 2005. Stonebridge made capital investments that allowed Alpha to nearly triple in size during the period and IPC’s investment opens perspectives for further growth, including even larger acquisitions than those the company made in the past.
Alpha Packaging currently operates five manufacturing facilities throughout the U.S., as well as a recently-opened plant in the Netherlands. The company’s Technigraph division provides high-quality container decorating services to leading personal care brands.
Under the agreement with IPC, Alpha’s top management team will stay in place. Dave Spence will remain as Alpha’s President and CEO. Mike DeFazio, who currently serves as Vice President of Operations, will become Chief Operating Officer. Alpha’s Chief Financial Officer, Gary Seeman, and its Executive Vice President of Sales, Jack Baily, will remain in their positions.
