NEW YORK– Funds managed by Kelso & Company (“Kelso”) have acquired Silver Spur Corporation (“Silver Spur”), a supplier of specialty glass and plastic packaging. Silver Spur will be combined with Kelso’s existing investments in C.L. Smith and Inmark, distributors of rigid container and life sciences packaging products. Financial terms of the private transaction were not disclosed.
Headquartered in Cerritos, CA, Silver Spur is a stocking distributor of glass and plastic packaging products serving a variety of end markets, with a specialization in glass bottles used in nutraceutical and pharmaceutical applications. Silver Spur’s 115,000 square foot warehouse offers customers just-in-time access to an extensive assortment of products sourced via the company’s global network of vendor relationships. Silver Spur also provides custom design and other value-added services and is committed to delivering best-in-class availability, customer care, and responsiveness. Silver Spur’s existing team will remain in place to maintain these high standards and drive the company’s next phase of growth.
“The Silver Spur team has successfully executed on a differentiated growth strategy focused on sourcing, stocking, and distributing high-quality specialty packaging products to customers with diverse needs,” said Sandy Osborne, Managing Director at Kelso. “The combination of Silver Spur with C.L. Smith and Inmark will improve our product availability, expand our geographic and end market coverage, and support the continued enhancement of our customer value proposition,” added Alec Hufnagel, Managing Director at Kelso.
Loeb and Loeb LLP served as legal advisor to Kelso.
Mesirow served as financial advisor to Silver Spur. Proskauer Rose LLP served as legal advisor to Silver Spur.
