A portfolio company of Peak Rock Capital and middle market private equity firm, Precision Global recently announced its acquisition of Ralpet Plastics, a manufacturer of injection and blow moulded plastic products.
Ralpet produces aerosol caps, cosmetics jars and bottles for a variety of uses and industries such as the personal care, cosmetics, food and beverage and industrial sectors. The company is headquartered in Sydney, Australia. It has a customer base that features blue-chip aerosol fillers and contract manufacturers.
The director of Precision Global and MD of Peak Rock Capital, Robert Strauss shares his elation regarding the acquisition.
‘It serves as a great example of the kind of strategic add-on acquisitions we continue to seek in order to enhance Precision’s operational and commercial capabilities. We look forward to continuing to build on the strong foundation that Ralpet’s management team created over the past three decades.’
Extending product range
CEO of Precision, Mario Barbero says that the company’s product offering and manufacturing processes are highly complementary.
‘Precision has been looking for an opportunity to expand into injection molded plastic accessories.We are excited to utilise the complementary capabilities of Precision and Ralpet to drive future growth,’ he explains.
The director and co-founder of Ralpet, Ralph Piggott comments: ‘We are excited to join the Precision team. Ralpet and Precision have each established strong reputations for high quality products and outstanding customer service.
Piggott says Ralpet’s employees are enthusiastic to work with Precision’s ‘talented’ management team to accelerate growth of the combined businesses.
