Centre Lane Partners Acquires Oracle Packaging
NEW YORK CITY, NY—August 15, 2012—Centre Lane Partners, a private investment firm based in New York City, NY, announced today that it has acquired Oracle Flexible Packaging (Oracle Packaging), which will be combined with Centre Lane’s existing portfolio company, LLFlex LLC.
Oracle Packaging is a diversified flexible packaging company serving the healthcare, food and beverage, and consumer products markets. Headquartered in Winston-Salem, NC, the company operates two manufacturing facilities with an employee team numbering 280.
Earlier this year, Centre Lane acquired LLFLEX, a manufacturer of high-performance, metals-based laminates for packaging and industrial markets including tobacco packaging, wire and cable armament and building and construction facings. The company, based in Louisville, KY, employs a team of 140 and serves customers in North America, Central America, South America and Western Europe.
“Both LLFLEX and Oracle have earned well-established reputations for providing innovative, high-quality products with outstanding service to customers within their respective markets,” commented Nathan Richey, managing director at Centre Lane, who also adds that the company is excited to bring these businesses together to create a true market-leader in the development, production and supply of high-performance packaging and converted products.
“The addition of Oracle scores a significant win for existing customers served by both companies, providing new capabilities and an expanded array of product solutions with which to serve them,” said Andy Starr, vice president and general manager at LLFLEX. “Oracle’s addition significantly expands our existing flexible packaging portfolio into several new and growing end-use segments, broadens our manufacturing capabilities and significantly enhances our new-product development capabilities.”
According to Chris Payne, vice president, sales and marketing with Oracle, this acquisition represents a significant step forward for its customers, employees and vendor partners. “Centre Lane’s strong financial backing will enable us to effectively manage the significant core-market growth we have been experiencing, and will further our development efforts for exciting new product platforms within those markets. Oracle has been providing innovative packaging solutions and services to our customers for over eight decades. Now, with the opportunity to leverage our collective knowledge and capabilities within a larger packaging organization, our ability to do so is significantly enhanced.”
Source: Centre Lane Partners and Oracle Flexible Packaging.