SOLV Holdings LLC acquired Elkhart-based Maverick Packaging Inc. in a deal that is expected to pair the company with Bomag Group in Angola, Indiana.
Maverick Packing specializes in packing and manufacturing of liquids for the hospitality industry. The company formulates and bottles liquids and designs the packaging.
“We see potential synergy between Maverick Packaging and another SOLV company, Bomag Group — a leading provider of plastic spouts and closures,” said Jeff Albert, CEO of SOLV Holdings, in a press release. “The two companies can strengthen each other, accelerate innovation and deliver great value to our customers.”
Albert said the team at Maverick offers experience and talent that will be valuable for Fort Wayne-based SOLV Holdings and its portfolio of companies.
Tom McGlone, president of Maverick Packaging Inc., said the partnership will offer opportunities to grow.
“I value hard work and integrity, yet have taken a short view with planning,” McGlone said. “SOLV has expertise in scaling businesses and takes a longer view, which is key to Maverick’s future. With a more forward-thinking approach and targeted investments, SOLV will help us improve the quality of life for employees, their families and surrounding business relationships.”
Maverick Packaging was founded in 1995. SOLV Holdings is an investment management company.
