Tekni-Plex completes acquisition of three healthcare packaging plants
18 June 2019
WAYNE, Pa., June 17, 2019 /PRNewswire/ -- Tekni-Plex has completed the acquisition of three manufacturing facilities from Amcor's Flexible Packaging business unit.
The facilities—located in Madison and Milwaukee, Wisconsin and Ashland, Massachusetts— provide a broad portfolio of sterilizable medical device packaging substrates including coated and uncoated Tyvek®, heat-seal and cold-seal coated paper and films, medical grade laminates and die-cut lids and labels.
"The acquisition expands our complex packaging solution portfolio for medical device manufacturers, many of whom have been supplied by our Colorite, Natvar and Dunn medical products businesses for decades," said Paul Young, president and chief executive officer, Tekni-Plex. "The acquisition of these three plants also brings us 150 highly qualified and experienced employees who form the backbone of the business. We are happy to welcome them to the Tekni team of 3,000 strong across the world."
The Amcor manufacturing facilities purchase is the eleventh acquisition Tekni-Plex has made in the past five years, supporting its strategy to grow its business though transformative acquisitions and strategic add-ons.
"Genstar is excited to be sponsoring Tekni-Plex's acquisition of the Amcor plants, as we continue to focus efforts on expanding our healthcare-related packaging capabilities," said David Golde, managing director, Genstar Capital.
About Tekni-Plex, Inc.
Tekni-Plex is a globally-integrated company focused on developing and manufacturing products for a wide variety of end markets, including medical, pharmaceutical, food, beverage, personal care, household and industrial. Tekni-Plex is headquartered in Wayne, PA, and operates manufacturing sites across eight countries worldwide to meet the needs of its global customers. For more information visit www.tekni-plex.com.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 30 years. Based in San Francisco, Genstar works in partnership with its management teams and network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $17 billion in assets under management. Its investments are focused on targeted segments of the industrial technology, healthcare, software and financial services industries.
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SOURCE Tekni-Plex, Inc.