Praxis Packaging Solutions has acquired Advanced Concept Innovations (ACI), a contract packaging provider headquartered in Lakeland, Florida.
Financial terms of the transaction remain undisclosed.
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ACI specialises in contract packaging of medical devices, over-the-counter products, consumer goods and health and beauty items. It also produces NIOSH-approved surgical N95 respirators.
The deal adds more than 160,000 ft2 of manufacturing and warehouse space to Praxis’ network.
Earlier this year, the company expanded its Grand Rapids, Michigan, site by 125,000 ft2, bringing its total facilities to almost one million ft2.
Praxis, established in 1989, delivers primary and secondary contract packaging services for the pharmaceutical, animal health, medical device, nutritional and personal care sectors.
It is backed by Chicago-based private equity firm BPOC.
Praxis chairman and CEO John Lowry said: “We are excited to have ACI and its experienced leadership team join Praxis.
“We share a common culture of customer-centric, quality-focused packaging services.
“Together, we believe we will be even better positioned to serve our customers, providing the high level of service and quality that customers have come to expect from both companies.”
The company stated the integration with ACI will extend its reach into the Southeastern US while broadening its capabilities.
Edgemont Capital Partners advised ACI on the financial aspects of the deal, with legal counsel from Morgan, Lewis & Bockius.
Paul Hastings was the legal counsel to Praxis.
ACI president Matt Muller said: “We are pleased to partner with an organisation that aligns with our commitment to quality and exceptional customer service.
“Praxis is an ideal partner to help us accelerate our growth while staying true to our mission.”
