Graham rolls up plastic-bottle makers
Precision + Paradigm + Scandia = Convergence
Graham Partners, the Newtown Square investment group started by industrialist Donald C. Graham, says it has acquired Atlanta-based plastic-bottle maker Precision Medical Inc., and merged it with Saddle River, NJ-based bottle maker Paradigm Packaging and its plants in New Jersey, California and Utah, which Graham bought in December, and Wisconsin-based bottle-maker Scandia Plastics, which it bought in Sept. 2012, combining all three to form a new company, Convergence Packaging.
The President and CEO of Convergence is Ross Bushnell, a former Monsanto and Silgan Plastics executive who Graham had prevoiusly assigned to run Scandia. Convergence is looking to buy more "strategic blow-molders," said Graham managing partner Adam Piatkowski in a statement. He told me the combined companies employ about 400.