Precision Concepts International (PCI), owned by The Sterling Group, acquires Comar to create a scaled rigid packaging platform. The financial details of the deal were not disclosed. The combined business will serve customers in consumer and healthcare sectors, offering a wide range of products and services.

Comar, established in 1949, specializes in making rigid packaging for consumer and healthcare uses, including plastic medical components. PCI, based in Huntersville, North Carolina, supplies specialty rigid packaging to small and mid-sized brands in personal care, household, and food and beverage categories.

The Sterling Group, a private equity firm, has backed 76 platform buyouts with a total deal value of more than $25bn. Evercore and Latham & Watkins advised PCI, while Guggenheim Securities and Jones Day advised Comar. The acquisition will enhance PCI’s capabilities and offerings to provide industry-leading packaging solutions.

PCI CEO Ray Grupinski expressed excitement about the partnership with Comar, stating it will enable the provision of even broader products and services to deliver more value to customers. The combined company will benefit from enhanced geographic, customer, and end market diversification, marking an important step forward in building a specialty packaging leader.

Read more at Yahoo Finance: Precision Concepts expands packaging portfolio with Comar purchase