Innovative Creative Packaging Solutions, a supplier of folding cartons and pressure sensitive labels based in South Plainfield, NJ, has been acquired by ICV Capital Partners, a New York based private equity investment company.
The seller was Impaxx, parent of a group of companies in various packaging and label manufacturing markets.
ICV has a majority interest in the company. The 21st Century Group, a Dallas private equity firm, also provided equity for the acquisition.
Joining ICV and the 21st Century Group in the Innovative investment was Albert D. Fuller, co-founder of Integrated Packaging Corp., a New Brunswick, NJ, packaging company. Fuller becomes an independent member of Innovative’s board.
“Innovative has been consistently profitable over the last four years,” says Lloyd Metz, an ICV principal. “This is a direct result of its customer-service-oriented culture that sets the company apart from its competitors. We are confident that Innovative is on track to win new pharmaceutical and cosmetics business.”
Established in 1984, Innovative Creative Packaging Solutions produces folding cartons and pressure sensitive labels for the private label pharmaceutical, health care and cosmetic industries.