MAPLE GROVE, Minn.--(BUSINESS WIRE)--Conductive Containers, Inc. (“CCI”, https://corstat.com), a leading provider of static control packaging for electronics, high-value components and optics, is thrilled to announce its acquisition of Crestline Plastics, Inc. (“Crestline”) in Albuquerque, New Mexico. CCI partnered with private equity investment firm, Great River Capital Partners (“GRCP”) in late 2021, with add-on acquisitions considered as one path to drive continued growth for the company. The acquisition of Crestline closed in early November.
Founded in 1981, Crestline designs and manufactures standard and custom thermoformed packaging for optical components and other precision electronics. Crestline is a growing, 2nd generation family-owned company, started by Steve Hermann to serve the needs of the industrial and electronics markets, and now owned and operated by Derek Hermann. The company supplies a diverse group of over 200 customers, including Fortune 500 accounts, with packaging and material handling solutions for precision glass, lenses, laser optics, image capture devices and other delicate components. Derek will continue with CCI as the General Manager, Crestline Division, and all Crestline employees have joined the CCI team.
“We are beyond excited to have Derek and the Crestline team joining our CCI family! On a business level, Crestline has unique capabilities with its plastic enclosures and optic lens inserts that complement our CCI box, tray and tote solutions incredibly well,” stated Brad Ahlm, CEO of CCI. Ahlm commented further, “There is very little overlap in our customer lists, and Crestline further steps up our production capacity. We are excited to now have a hub in the southwest to better serve key accounts in Southern California and Mexico. The fit could not be better!”
Derek Hermann continued, “I share Brad’s positive outlook for the CCI-Crestline combination. Crestline has a defined niche and is very good at what we do in the optics market. Through CCI, we gain access to expanded product development, engineering and sales resources. This will only help push Crestline to the next level and to serve our customers in new, creative ways. We are enthusiastic about being a part of CCI, a known leader in ESD and other specialty packaging applications.”
There was no intermediary involved with Crestline, as the business was identified directly by GRCP as an attractive acquisition target. Diligence support and financing was provided by Great River and CCI’s existing bank lender, Salem Five Bank. Crestline will continue to operate in its existing leased facility in Albuquerque, NM, doing business as “CCI–Crestline Division”, within CCI Static Holdings, LLC. More information on Crestline is available at https://www.crestlineplastics.com and on CCI is available at https://corstat.com.
About Conductive Containers, Inc. (CCI)
Founded in 1978, CCI is a leading manufacturer of electrostatic discharge (ESD) packaging products for the electronics, medical, defense, and industrial markets. ESD packaging is designed to protect electronics and other sensitive components from static discharge that can be damaging and cause device failure. CCI created the first conductive corrugated packaging product, patented under Corstat, and has since expanded to offer a full range of standard and custom ESD products including fluted plastics, foams, injection-molded products, and thermoformed plastics. CCI sells through distributors and manufacturers reps, coordinated by a 15-member sales team. The company has continued to grow well year-over-year, and is moving into a state-of-the-art 82,000 square foot manufacturing facility in Maple Grove, Minnesota.
About Great River Capital Partners (GRCP)
Great River Capital Partners (GRCP) is a private equity investment firm in Boston, MA focused only on acquiring mid-sized, founder-owned industrial technology and niche manufacturing companies. The firm is backed by 20 HNW individual investors and family investment offices that provide equity capital to support its transactions. GRCP has several active platform investments including Conductive Containers and Alloy Process Engineering, a food processing equipment business also in Minnesota.
