AmerCareRoyal (HCI Equity Partners) Acquires Thermosource Tooling and Manufacturing

AmerCareRoyal Acquires Team Three Group

February 27, 2023

Packaging

AmerCareRoyal (backed by HCI Equity Partners) has acquired Team Three Group in its eighth add-on acquisition since HCI's initial investment. The deal expands AmerCareRoyal's product categories and geographic footprint—adding distribution capacity in the Midwest and California—and brings Team Three founder Bob Hubbard onto the ACR executive team.

ACR (AmerCareRoyal) Acquires Mat-Pac, Inc.

October 9, 2024

Packaging

ACR (AmerCareRoyal), a portfolio company of HCI Equity Partners, has acquired Mat-Pac, Inc., a supplier of paper, plastic, aluminum and sustainable packaging solutions for the North American foodservice and janitorial/sanitation markets. The add-on strengthens ACR's product portfolio, expands its reach across foodservice and JanSan end markets, and retains the Mat-Pac leadership (the Jimenez family) in an ongoing role.

AmerCareRoyal Acquires Ross & Wallace Paper Products

December 17, 2021

Packaging

AmerCareRoyal, backed by HCI Equity Partners, acquired Ross & Wallace Paper Products, a Hammond, Louisiana manufacturer of paper grocery and merchandise bags. The acquisition — AmerCareRoyal's seventh add-on since HCI's initial investment — closed on September 23, 2021; financial terms were not disclosed.

Arsenal Capital Partners Acquires ThermoSafe from Sonoco

November 4, 2025

Manufacturing

Arsenal Capital Partners has completed the acquisition of ThermoSafe from Sonoco Products Company. ThermoSafe, headquartered in Arlington Heights, Illinois, is a global provider of temperature-assurance packaging and cold-chain solutions for pharmaceuticals, biologics and vaccines; Arsenal intends to accelerate growth and expand ThermoSafe's technology and product portfolio as part of its specialty packaging investments.

Tech24 Acquires Total Mechanical Repair Services

May 31, 2023

HVAC & Mechanical

Tech24, a national foodservice and commercial HVAC repair platform backed by HCI Equity Partners, acquired Total Mechanical Repair Services (TMR) on May 24, 2023 as its sixteenth add-on. The acquisition expands Tech24’s service footprint in Southern Mississippi and provides access to adjacent Louisiana markets; financial terms were not disclosed.

US Distribution LLC (TRS Capital) Acquires Thermosleeve USA

July 2, 2021

Manufacturing

US Distribution LLC, a TRS Capital company, has acquired Thermosleeve USA, a Cerritos, California-based supplier of heat-shrinkable tubing and related products. Thermosleeve will remain in Cerritos with founder David Levy and key staff staying on to support the transition as TRS looks to expand its U.S. manufacturing and distribution portfolio.