Lubricant supplier Acrotech Industries said it recently acquired Panef Corp., a Milwaukee-based packager of oils and greases. Acrotech said it was attracted by Panefs ability to fill small containers – and that it will be incorporated into Acrotechs strategy of catering to small volumes.
Our strategy is to service those companies who are looking to have a professionally packaged product but cannot meet the minimum volume levels required by high-volume contract packagers, Acrotech Vice President Mike Schmidt said.
Panef is a 60-year-old supplier of lubricating oils, greases and powders that it frequently packages in tubes and other small containers. Officials said it has focused on contract packaging small- to medium-volume runs.
The companies did not disclose terms of the transaction. Panef will remain housed in its Milwaukee plant and will operate as a division of Acrotech.
Acrotech is based in Crystal Lake, Ill. In addition to contract packaging, it markets Lubriko lubricants, Slip Plate dry film products and AcroTropic Reef Sand.