Selig, owned by New York and San Francisco-based private equity firm Behrman Capital, specialises in the manufacture of tamper-evident cap and closure lining material.
“ISCO’s operation in Switzerland will strengthen our presence in Europe and provide truly global manufacturing, enhance our access to the European market, and accelerate our growth, said Selig CEO and president Steve Cassidy. “With this acquisition of ISCO, Selig has strengthened its access to both closure lining products as well as flexible packaging sectors throughout the European market.”
He added he anticipated developing new technologies in the wake of the takeover.
Selig said it was financing the acquisition from existing credit facilities but gave no further financial details on the transaction.
ISCO revealed it expects to receive significant investment as its new owners bid to grow the business – including development of its Niederglat plant. The privately held outfit produces specialised laminated films for use in container sealing, NBC protection applications and decorative flexible laminated films across a range of food industry applications.
“Accompanying Selig’s investment will be their commitment of substantial financial and operational expertise,” said Jacques H. Schindler, who will continue as ISCO vice president. “Selig will be an excellent partner for us as we implement the next stages of our growth plan.”
The company exports 70 per cent of its product and declared it would benefit from Selig’s global distribution network.
Selig said the acquisition would allow it to now offer a complete portfolio of lamination technologies - including solvent based, solvent free, and extrusion and hot-melt systems. The Illinois-based company added the takeover also now meant it had a broad range of print solutions including water based and solvent based, flexographic and rotogravure, as well as the capability to employ 10-colour gravure print.
Established more than 120 years ago, Selig makes container seals including foil innerseals and primary closure liners for plastic, metal and glass containers designed to ensure food quality, extend shelf life and provide tamper evidence.