Selig Sealing Products Inc. has a new owner, one that's looking to hold on to the maker of packaging closure liners for the long haul.

CC Industries Inc. also likes the potential to expand the business, which already is the largest global manufacturer of tamper-evident, induction cap and closure liners, according to its now former owners, Behrman Capital.

Selig makes closure liners found on packaging such as peanut butter jars, medicine containers and orange juice bottles.

The Naperville, Ill.-based firm also makes roll stock that other companies then use to convert into closure liners.

For Behrman Capital, a private equity firm, it was simply time to cash out of a 10-year holding. For CC Industries, the deal is a chance to move deeper into the packaging business.

“We're long-term holders. We're interested in the industry in general and we think we can help Selig prosper and grow,” said David Rubin, general counsel for CC Industries, based in Chicago. “Certainly we would like to grow in this industry.”

Selig uses plastics, foils and paper, in various combinations, to create closure liners that are typically induction-sealed to not only protect the product, but also provide tamper evidence, brand identification and counterfeit deterrence.

“We've been owned by Berman Capital, so it was a private equity group and they thought it was the best time to sell the company and basically give the proceeds back to the investors,” said John Brown, vice president of marketing at Selig. “This is a pretty long hold. They found a very good owner in CC Industries, who is a longer-term investor.”

CC Industries is controlled by the Crown family out of Chicago.

News of the Selig deal comes just about a month after CC Industries acquired J.L. Clark Inc. of Rockford, Ill., which makes some seal liners, but mostly plastics and metal containers.

J.L. Clark, which also has manufacturing operations in Lancaster, Pa., has about 350 employees and sales of about $77 million annually. In divesting J.L. Clark, Clarcor Inc. indicated the company had transformed itself over the years into a filtration company and had not been able to give the focus and energy that the packaging firm deserved.

As for Selig, both sides declined to reveal a sales price or annual sales for Selig. Rubin did indicate the company has about 400 workers.

CC Industries is part of Henry Crown and Co., a holding and management company for the Crown family's companies. Other companies in the portfolio include Great Dane Trailers, which makes truck trailers, and Little Lady Foods, which describes itself as a contract manufacturer and “the leader in specialty frozen pizzas.” The family company also owns bus maker Gillig.

But this is story is not about pizza or buses or trailers.

Selig was put on the market about nine months ago, according to Brown. It took a few months for CCI and Behrman Capital to finalize a deal, Rubin said.

CC Industries signaled the new owner is happy with current Selig management — “a good team and we're delighted to have them,” Rubin said.

Steve Cassidy will remain as president and CEO of Selig, which has locations in Forest, Ill.; Aurora, Ontario; Slough, England; and Niederglatt, Switzerland.

Food and beverage account for a majority of Selig's business, but the company also serves other consumer goods and agriculture markets and even has some military applications through its flexible packaging business in Switzerland, Brown said.

Selig high-barrier laminates are used to protect against nuclear, biological and chemical exposure. “It's a very small part of our business, but it's a very unique part of our business,” he said.

Grant Behrman, managing partner of Behrman Capital, characterized his company's 10-year investment in Selig as a success.

“Together with Steve Cassidy and his team, we built value through the strategic acquisition of Unipack and ISCO, the construction of a greenfield facility in the [United Kingdom] and a range of other operational initiatives. The business is well-positioned for continued growth with CC Industries,” Behrman said in a statement.

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