One of Liqui-box’s products is bags-in-a-box for oil and other liquids.
A Richmond packaging producer is putting its faith in a deal in the Cape of Good Hope to steer its global operations in the right direction.
Liqui-Box, a downtown-based manufacturer of packaging for liquid and semi-liquid products, announced a deal last week to acquire Maverick, a South African-based producer of machinery for packaging manufacturing. Terms of the deal were not disclosed by Liqui-Box.
“Combining Maverick with Liqui-Box will be transformational for the business as we look to integrate our various divisions into our global strategy,” Liqui-Box vice president Paul Kase said.
The deal, announced May 31, follows an April investment of $4 million by Liqui-Box in two of its factories in Ashland, Ohio, and Sacramento, California.
Liqui-Box, which is owned by private equity firm Olympus Partners, is headquartered in Riverfront Plaza at 901 E. Byrd St. The firm manufactures various plastics products, including bag-and-box containers used to store soft drink syrup for soda fountains.
It moved its headquarters to the downtown address in 2015 from Ohio. Case said the company plans to remain and grow in Richmond. It has 15 employees in Richmond and more than 600 worldwide.
Another of Liqui-box’s products.
Before acquiring Maverick, Liqui-Box contracted with Maverick to produce its machinery, as well as developed some of its factory equipment in-house. Now, Case said Liqui-Box will integrate Maverick’s engineering and manufacturing processes in all of its plants while also adding a post in the African market. Liqui-Box now lists offices in five continents.
“This move expands our global footprint and provides more opportunity in the market,” Case said.
Olympus Partners acquired the company last year. It was previously owned by Houston-based private equity firm The Sterling Group.
Manu Bettegowda, a partner with Olympus who also worked on his firm’s acquisition of the Richmond company, said in a prepared statement that more deals may be on the horizon for Liqui-Box.
“Maverick is the first in a series of acquisitions planned for Liqui-Box and aligns with the strategic investments we continue to pursue,” he said.
Maverick started in 1999 and is located in Cape Town, South Africa, which is that country’s second-largest city. Case said no Liqui-Box employees will relocate to Africa but that it will retain all of Maverick’s employees.
One of Liqui-box’s products is bags-in-a-box for oil and other liquids.
A Richmond packaging producer is putting its faith in a deal in the Cape of Good Hope to steer its global operations in the right direction.
Liqui-Box, a downtown-based manufacturer of packaging for liquid and semi-liquid products, announced a deal last week to acquire Maverick, a South African-based producer of machinery for packaging manufacturing. Terms of the deal were not disclosed by Liqui-Box.
“Combining Maverick with Liqui-Box will be transformational for the business as we look to integrate our various divisions into our global strategy,” Liqui-Box vice president Paul Kase said.
The deal, announced May 31, follows an April investment of $4 million by Liqui-Box in two of its factories in Ashland, Ohio, and Sacramento, California.
Liqui-Box, which is owned by private equity firm Olympus Partners, is headquartered in Riverfront Plaza at 901 E. Byrd St. The firm manufactures various plastics products, including bag-and-box containers used to store soft drink syrup for soda fountains.
It moved its headquarters to the downtown address in 2015 from Ohio. Case said the company plans to remain and grow in Richmond. It has 15 employees in Richmond and more than 600 worldwide.
Another of Liqui-box’s products.
Before acquiring Maverick, Liqui-Box contracted with Maverick to produce its machinery, as well as developed some of its factory equipment in-house. Now, Case said Liqui-Box will integrate Maverick’s engineering and manufacturing processes in all of its plants while also adding a post in the African market. Liqui-Box now lists offices in five continents.
“This move expands our global footprint and provides more opportunity in the market,” Case said.
Olympus Partners acquired the company last year. It was previously owned by Houston-based private equity firm The Sterling Group.
Manu Bettegowda, a partner with Olympus who also worked on his firm’s acquisition of the Richmond company, said in a prepared statement that more deals may be on the horizon for Liqui-Box.
“Maverick is the first in a series of acquisitions planned for Liqui-Box and aligns with the strategic investments we continue to pursue,” he said.
Maverick started in 1999 and is located in Cape Town, South Africa, which is that country’s second-largest city. Case said no Liqui-Box employees will relocate to Africa but that it will retain all of Maverick’s employees.