Tjoapack expands into the US with the acquisition of Pharma Packaging Solutions
25 October 2021
Tjoapack, a Netherlands-based contract packaging organisation serving the pharmaceutical industry, has acquired US-based Pharma Packaging Solutions ("PPS"), a leading healthcare packaging services business based in Clinton, TN. PPS provides commercial packaging and other, complementary services such as cold chain storage, stability and product retain services to a variety of pharmaceutical and medical device industry customers.
"Tjoapack's acquisition of PPS creates an opportunity to build a new global leader in contract packaging and supply chain services for the pharmaceutical market. The acquisition supports Tjoapack's growth strategy and is indicative of our commitment to customers," said Dexter Tjoa, CEO of Tjoapack. "Both companies are known in the market for having a nimble, customer-centric mindset that translates into high service quality and flexibility in providing tailored solutions to complex client needs. Having operations in both the US and Europe will ensure that our customers' products are available to patients that need them anywhere and anytime."
Reid Lederer, President of PPS, added, "By joining Tjoapack, Pharma Packaging Solutions will have access to resources and an extended global market presence to accelerate future growth. An important benefit of the business combination will be investments by Tjoapack to enhance PPS's operational efficiency and capabilities, including the addition of automated packaging and labeling capabilities for injectable products. Together, the two companies will emerge as a leading, trusted provider of packaging and other value-added services to healthcare industry clients around the globe."
Tjoapack's acquisition of PPS was funded by Ampersand Capital Partners ("Ampersand") which first invested in the Company in 2020. With support from Ampersand, Tjoapack is nearing the completion of a major facility expansion to substantially increase packaging capacity for both oral solid and parenteral drug products.
Founded in 1989, Tjoapack is a contract packager of medicines that provides innovative, flexible service to clients across five continents and 45 countries. With currently 19 packaging lines, the company offers primary, secondary and unit dose packaging for oral solid dose blister packs, wallets and bottles. Tjoapack also provides automated labelling and packaging of injectable products, along with complementary supply chain services. Tjoapack's 120,000 square foot facility is strategically located near the ports of Rotterdam and Antwerp, serving as a gateway to the European market.
ABOUT PHARMA PACKAGING SOLUTIONS
Pharma Packaging Solutions was founded in 1998 as a division of Carton Services, Inc., a supplier of folding cartons to the pharmaceutical, food and consumer packaged goods industries. Operating from a 110,000 square foot facility in Clinton, TN, PPS serves a variety of healthcare industry customers with contract packaging and related services.
ABOUT AMPERSAND CAPITAL PARTNERS
Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm's core healthcare sectors. Additional information about Ampersand is available at www.ampersandcapital.com.
For more information, please visit http://tjoapack.com/