Action Packaging and Signature Flexible Packaging Complete Acquisition of Techflex Packaging, LLC and Rebrand as DazPak Flexible Packaging
LOS ANGELES--(BUSINESS WIRE)--#CustomerBase--Action Point, Inc (“Action” or “Action Packaging”) and Signature Flexible Packaging, Inc. (“Signature” and, together with Action, the “Company”), an H.I.G. Capital portfolio company, is pleased to announce that it has acquired Techflex Packaging, LLC (“Techflex”).
Headquartered in Gardena, CA, Techflex provides pouch converting capabilities to short-run, high-SKU count customers, primarily serving the food and medical end markets. The combination will allow the Company to provide a full-service flexible packaging product set to further meet the needs of its combined customer base. The acquisition strengthens the Company’s ability to provide comprehensive flexible packaging solutions and services to its customer base throughout North America.
“We are thrilled to support this strategic investment,” said Ryan Kaplan, Managing Director at H.I.G. Capital. “Techflex’s pouch converting capabilities represents a natural expansion of the Company’s existing capabilities on the West Coast.”
Burt Siegelman, Co-Owner of Techflex commented, “We look forward to the strategic alliance with Action and Signature. Techflex has been doing business with the Company for over two decades and it’s extremely exciting to finally bring our businesses together.”
Neil Kinney, Co-Owner of Techflex added, “The combined businesses will offer leading regional scale and a comprehensive product offering to our customers, while continuing to offer high quality packaging solutions.”
In conjunction with the acquisition, the Company, including Techflex and Chromatic Label, has rebranded as DazPak Flexible Packaging (“DazPak”), a newly integrated flexible packaging platform.
DazPak fills the growing need for flexible packaging in all forms. The benefits of flexible packaging are becoming more and more relevant as companies work to bring brands to market quickly, sustainably and more efficiently. Flexible high barrier packaging gives brands marketable graphics, while also reducing storage space requirements and freight costs over rigid packaging. DazPak represents the premier flexible packaging company on the West Coast through its combined capabilities, deep expertise, superior quality, and unmatched customer service.
“We created DazPak to take the friction out of the packaging process, making it easier and faster for our customers to get their product to market in high quality packaging. We’ve integrated the significant leadership, experience and talent from these companies, to bring our expertise in design, manufacturing, printing, and converting together under a single brand that delivers more value, service and choice to our customers,” said DazPak CEO, John Attayek.
About DazPak Flexible Packaging
DazPak is a flexible packaging company operating four facilities in Southern California that print and convert a full spectrum of flexible packaging solutions for the food & beverage, health & beauty, pet food, pharmaceutical, nutraceutical, and agricultural markets. Products include printed laminated rollstock, stand-up zipper pouches, stick packs and sachets, shrink sleeves, pressure sensitive labels, unprinted rollstock, pouches, bags and more. For more information visit: dazpak.com
About Techflex Packaging, LLC
TechFlex is a leading pouch converter focused on customized pouch solutions sold into the food and medical end markets, serving customers throughout North America from its manufacturing facility in Gardena California.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $47 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
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