Precision Global, a portfolio company of Peak Rock Capital, a leading middle market private equity firm, announced today that it has acquired Ralpet Plastics Pty Ltd, 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.”