AUSTIN, Texas, Oct. 10, 2016 /PRNewswire/ -- Precision Global ("Precision" or the "Company"), a portfolio company of Peak Rock Capital ("Peak Rock"), a leading middle market private equity firm, announced today that it has acquired Ralpet Plastics Pty Ltd ("Ralpet"), a manufacturer of injection and blow molded plastics products.
Headquartered outside of Sydney, Australia, Ralpet manufactures aerosol caps, cosmetics jars and bottles for a variety of uses, including the personal care, cosmetics, food & beverage and industrial sectors. Ralpet's customer base features blue-chip aerosol fillers and contract manufacturers.
Robert Strauss, Director of Precision Global and Managing Director of Peak Rock Capital, said, "We are delighted that Precision has acquired Ralpet and look forward to the Company continuing to build on the strong foundation Ralpet's management team has created over the past three decades. The acquisition of Ralpet by Precision 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."
Mario Barbero, Chief Executive Officer of Precision, added, "Ralpet's product offering and manufacturing processes are highly complementary. Precision has been looking for an opportunity to expand in injection molded plastic accessories, and we are excited to utilize the complementary capabilities of Precision and Ralpet to drive future growth."
Ralph Piggott, Director and co-founder of Ralpet, commented, "On behalf of not only myself, but also my partner, Andrew Knigge, and all Ralpet employees, we are very excited to join the Precision team. Ralpet and Precision have each established strong reputations for high quality products and outstanding customer service, and I'm looking forward to working with Precision's talented management team to accelerate the growth of the combined businesses."
ABOUT RALPET PLASTICS PTY LTD
Ralpet is a leading manufacturer of injection and blow molded plastic products. Headquartered outside of Sydney, Australia, Ralpet produces a variety of aerosol caps, cosmetics jars and bottles for leading aerosol fillers and contract manufacturers across numerous end markets, including personal care, cosmetics, food & beverage and industrial. For further information about Ralpet, please visit www.ralpet.com.au.
ABOUT PRECISION GLOBAL
Founded in 1949, Precision Global is the inventor of the modern aerosol valve and a leading global manufacturer of aerosol valves, actuators and other dispensing solutions for a variety of uses, including personal care, household, food & beverage, industrial and pharmaceutical. Based in New York, the Company operates a multinational network of facilities spanning sixteen countries on six continents. For more information about Precision Global, please visit www.precisionglobal.com.
ABOUT PEAK ROCK CAPITAL
Peak Rock Capital is a leading middle-market private equity firm that makes equity and debt investments in companies in North America and Europe. Peak Rock focuses on investing in opportunities where it can support senior management in driving rapid growth and profit improvement through operational and strategic change. Peak Rock's principals have deep expertise in complex situations and cross border transactions, with the ability to provide tailored capital solutions and close transactions quickly where speed and certainty are priorities. For further information about Peak Rock Capital, please visit www.peakrockcapital.com.
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SOURCE Peak Rock Capital