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By Bill Bregar
SENIOR STAFF REPORTER
Published: July 3, 2014 1:18 pm ET
Updated: July 3, 2014 1:21 pm ET
Image By: MetPro Group
MetPro Group says it is the only vertically integrated maker of vapor corrosion inhibitor film.
Specialty films converter Transilwrap Co. Inc. has expanded globally by purchasing MetPro Group, which makes protective packaging products that prevent moisture and corrosion on everything from plastic and paper to steel and aluminum. Transilwrap, based in Franklin Park. Ill., is a major converter that operates eight manufacturing plants and nine distribution centers in North America. MetPro operates facilities around the world, in Ireland, Scotland, Germany, France, India, Africa and North America.
MetPro is a strategic partnership between MetoPro Verpackungs-Service of Stuttgart, Germany, and MetPro Ltd. of Tralee, Ireland, and serves customers in more than 30 countries.
MetPro claims to be the only vertically integrated manufacturer of vapor corrosion inhibitor film and paper packaging. VCI packaging is used to protect metal shipping and storage and surface coat steel for shipment, according to the company’s website. MetPro makes proprietary VCI masterbatch compounds.
Terms of the deal were not disclosed. Chicago-based Blaige & Co. represented MetPro Group. Chairman and CEO Thomas Blaige said MetPro has made five add-on acquisitions in recent years and expanded globally. The company has global certifications to serve automotive and metal products companies, with long-term supply relationships, he said.
Transilwrap officials said MetPro will continue to be run by the current management team, as a new business segment inside Transilwrap. MetPro facilities will continue to operate, with current employees, they said.
MetPro is the third acquisition for Transilwrap in the past five years. Transilwrap bought Quest Films Inc. in 2009 and InterFilm Holdings Inc. in 2011.
New York private equity firm Jordan Co. acquired Transilwrap late last year. | |
