RC Law Acted on KCE’s US Sell to an Asian Private Equity Firm
Press Release by CTL Pack
KCE, OWNER OF CTLPACK GROUP, SELLS USA SUBSIDIARY TO ICONS GROUP AND TRANSFERS MANUFACTURING ACTIVITIES FROM BARCELONA TO CTLPACK VITORIA
KAIZAHARRA CORPORACION EMPRESARIAL (KCE), owner of the CTLpack Group (formerly TUBOPLAST), has closed an agreement for the sale of 100% of the capital of its subsidiary CTLpack USA, located in Charlotte (North Carolina) to the ICONS Group. The agreement, finalized this week, includes the collaboration of the CTLpack Group to continue supplying components for the manufacture of cosmetic tubes, as well as technical assistance services.
The closure of CTLpack Barcelona (formerly TAPSER) took place on July 31, 2023, transferring the laminated tube manufacturing facilities to CTLpack’s plant in Vitoria. This transfer has already been carried out, and the manufacturing of laminated tubes at the Vitoria plant is now operational.
Both operations, the transfer of CTLpack Barcelona and the sale of CTLpack USA, in addition to the development of the investment and modernization plan that is in execution period, are part of KCE’s strategy to strengthen the position of CTLpack Group as one of the leading companies in Europe in cosmetic and pharmaceutical tube packaging. In this way, the design and technology capabilities of the Vitoria plant will be strengthened and the manufacturing capabilities of the Vitoria and Vichy – France plants will be modernized.
Press Release by ICONS USA
ICONS BEAUTY GROUP ACQUIRES ON-SHORE USA PACKAGING MANUFACTURER
ICONS Beauty Group (“ICONS”) a cosmetic, beauty and health group of companies, and a ShawKwei & Partners portfolio company, announces the 100% acquisition of CTL Packaging USA, Inc. (“CTL”). CTL will now operate as ICONS America LLC. The facility specializes in the production of injection molded tubes using In-Molded Label (“IML”) technology for the beauty and health industry, providing high-quality decorative capabilities and luxury finishing.
Based in Charlotte, North Carolina, CTL was founded in 2011 as part of CTLpack Group S.L.U., a long-standing Spanish tube manufacturer for beauty and health products. The facility will merge into ICONS Beauty Group, which is headquartered in Singapore, to broaden its capabilities with made-in-USA quality products. ICONS has an over 30-year history of providing beauty and health customers with quality packaging products such as tubes, bottles, jars and accessories. Recently, ICONS has started production of sustainable rigid packaging products from its group factory in Thailand bringing more diversity to the supply chain. In addition, ICONS has a factory in Sydney, Australia producing natural and innovative hair treatments, personal care and skincare for specialty brands in Australia, USA and Europe.
Sue Nichols, the CEO of ICONS Group, said, “CTL has an experienced management team with well-established technology and proven products already in the market. We welcome CTL to the ICONS family as ICONS America LLC. The acquisition provides customers with a USA onshore manufacturing solution which reduces the carbon footprint by manufacturing close to their customers and shortening the shipment delivery lead time. We look forward to delivering a broad selection of innovative and cost-efficient quality products to our customers.”
Kyle Shaw, Founder and Managing Partner of ShawKwei said, ” The beauty and health industry has a complex value chain, and the combination of CTL with ICONS provides USA customers with greater flexibility to optimize their supply chain and accelerate time-to-market for new products. ICONS already has a well-developed beauty and health packaging business in Asia and an Australian manufacturer of hair treatments, personal care and skincare. ICONS Beauty Group will leverage their current capabilities together with ICONS America LLC manufacturing operations to expand ICONS packaging products and capabilities.”
About Icons Beauty Group
Icons Beauty Group (“ICONS”) is owned by ShawKwei & Partners and ICONS management and is described more fully at www.iconsbeautygroup.com. ICONS delivers innovative and sustainable product solutions to beauty and health customers in USA, Europe and Australia. ICONS has two wholly owned subsidiaries with ICONS|ICS and ICONS|Rauxel. ICONS|ICS is a full-service provider of primary packaging, design and supply to color cosmetic, skincare, pharmaceutical and beauty customers. ICONS|ICS has a global presence with offices in Asia, North America and Australia and a top tier Corporate Social Responsibility rating with a Platinum EcoVadis Medal, SEDEX and UN Global Compact memberships. ICONS|Rauxel is based in Sydney, Australia and is a leading private label manufacturer of premium, clean and creative haircare and skincare products and specializes in botanical and natural extract formulations. ICONS|Rauxel is ISO GMP 22716 and Australian Organic certified.
About ShawKwei & Partners
ShawKwei & Partners is a private equity industrial investor with offices in Singapore, Hong Kong, San Francisco, and Shanghai. ShawKwei & Partners invests in industrial and service companies with revenues between US$50-800 million operating across Asia, Europe, and the USA. After investing, ShawKwei & Partners helps improve a business by partnering with management to identify and realize sustainable performance improvements in sales growth, margin expansion, and capital efficiency.
Kyle Shaw established ShawKwei & Partners in 1998 after previously managing Asian private equity funds for the Tudor Investment Group and Security Pacific National Bank. Past investments include the energy engineering solutions business of the CR3 Group; the beauty and health business of the ICONS Group; the Chinese adhesive tape manufacturer YongLe Tape; the precision engineering manufacturer of plastics, metals and electronics Beyonics; the German designer and manufacturer of capital equipment for PCB’s, solar cells and lithium batteries Schmid Group; and the contract manufacturer of electronics Flex Holdings (previously Flextronics). For more information please visit: www.shawkwei.com
Source: https://www.ics-world.com/icons-beauty-group-acquires-on-shore-usa-packaging-manufacturer/
