Future Design Inc., a Canadian manufacturer of blown film packaging technology, has been acquired by U.S.-based extrusion equipment supplier Gloucester Engineering Co.
March 10, 2012 by Canadian Plastics
Toronto-based Future Design, founded by industry veteran Robert Krycki, is known in particular for their blown film bubble management technology, air rings, SES evacuation systems, collapsing frames, and narrow web/lab lines.
The terms of the deal have not been disclosed.
Headquartered in Gloucester, Mass., Gloucester designs and manufactures equipment for blown and cast films, sheet and foam extrusion, bag making and extrusion coating. It is owned by New York City-based private equity firm Blue Wolf Capital Fund II LP.
“Over the past 34 years, Future Design has produced innovative and successful products that advance the competitiveness and return on investment for blown film producers around the world,” said Gloucester’s CEO Mark Steele. “We’re excited to now offer the portfolio of products from Future Design to our global customer base. Partnering with Future Design expands our offering and will drive growth for both business units.”
Krycki, who currently handles technical sales with Future Design, will continue to support the business. “Gloucester’s experience and financial backing will provide added sources of creativity, financial capacity, distribution and service network to continue our growth and innovation,” he said.
On a related note, Benjamin Prinsen – a longtime employee of Mississauga, Ont.-based film and sheet extrusion equipment maker Macro Engineering & Technology – is joining Future Design as vice president and general manager.