Pack Logix last Monday announced that it has acquired the assets of the Spectrum Lubricants (Division of Philips 66) packaging facility located in Waukesha, WI. Spectrum has 24 employees at the 40,000-square-foot Waukesha facility, all of whom will be retained by Pack Logix. The acquisition was finalized February 16, 2018 for an undisclosed amount.
Milwaukee-based Pack Logix is a diversified contract packager, packaging distributor, fulfillment and logistics company offering turn keys solutions for hundreds of companies located throughout the United States and Internationally. The acquisition of the Spectrum facility will add high speed filling of lubricants and chemicals to Pack Logix’s capabilities which currently include tube filling, skin/blister/clamshell packaging and kitting.
“We are excited about the additional services we can offer our existing and new customers as we continue to service the increasing demand for contract packaging and value added services such as sourcing, packing, warehousing and direct distribution” said Bruce Moncrieff, CEO.
Selmer, Tennessee-based Spectrum Corp., a division of Phillips 66, was acquired in 2014. It blends, packages and markets specialty lubricants including two-cycle engine oil, small engine oil and hydraulic oil for an international client base, primarily in the outdoor power equipment/lawn and garden market. This plant is not part of the Pack Logix deal and remains with Phillips 66.
In addition to the Spectrum acquisition, Pack Logix will absorb the contract packaging and fulfillment business from PAX Holdings. PS Capital Partners will become an equity partner of Pack Logix and strategic influence as they continue to explore acquisitions, mergers and alliances in the packaging space.