Exton-based AmerCareRoyal (ACR), a disposable foodservice supplies supplier, recently purchased California-based Thermosource Tooling and Manufacturing (TTM), a thermoformed and flexible packaging solutions supplier.
Financial terms were not disclosed.
Washington, D.C.,-based HCI Equity Partners (HCI), a lower middle market private equity firm focused on partnering with family and founder-owned distribution, manufacturing, and service companies, backed ACR.
“TTM’s exceptional design and engineering capabilities, particularly in unique packaging formats, complement our existing product lines and capabilities, allowing us to provide a more comprehensive offering to our combined customer base,” AmerCareRoyal CEO Scott Milberg said. “Bringing TTM under the AmerCareRoyal umbrella presents significant cross-selling opportunities, especially in segments where we have been seeking to expand, while also growing the product offering available to TTM’s customers.”
TTM supplies the foodservice, food production, and grocery industries. Its purchase allows ACR to expand its branded and customized packaging solutions capabilities and to offer complementary product and customer segments. It also will expand the product offering and value proposition to both TTM’s and ACR’s customers, ACR said.
This is ACR’s ninth acquisition since HCI’s initial investment.
AmerCareRoyal has multiple shipping points throughout North America. It produces packaging and preparation products used in the foodservice, healthcare, hospitality, industrial, janitorial, and sanitation industries.