The packaging manufacturer, Stronghaven, acquires the packaging manufacturer Action Box
Background One third of crude oil in the USA comes from Texas. The tools for the drilling industry are packaged by Action Box in such a way “that they are delivered safely and yet still look good in the process”. But the company from Houston does not only package items for the oil industry, but also supplies solid cardboard boxes and corrugated cardboard boxes for all industrial sectors.
The deal It is precisely that particular factor that makes Action Box such an attractive prospect for Stronghaven. The company is based in Atlanta, Georgia, is active in the same industry and acquired the Houston-based company on 1 July 2016. Action Box received exclusive advisory services from Rosoff &Co, the American partner of the IEG - Investment Banking Group.
The prospects Stronghaven is a subsidiary of Hood Container, which also manufacturers cardboard packaging. Hood Container from Tennessee is therefore expanding its market coverage throughout the US: Stronghaven supplies the south-east of the US, Action Box supplies the areas to the west of this. “The acquisition of Action Box as an established supplier of quality products makes it possible for us to continue to promote the presence of Stronghaven”, comments Charles E. Hodges, President of Hood Container.