Technimark acquires European Injection Molder, Tool & Plastic Industries Ltd., expands global manufacturing platform and focuses on healthcare
ASHEBORO, NC, 15th July 2020 / PRNewswire / – Technimark, a global manufacturer of custom hard plastic packaging and components, announced today that it has acquired Tool & Plastic Industries Ltd., a leading provider of injection molded products to the medical device, pharmaceutical and consumer goods industries. The company is headquartered in Longford, Irelandwith an additional facility in Ostrava, Czech Republic. The financial terms of the transaction were not disclosed. Technimark is supported by Pritzker Private Capital.
Tool & Plastic, in operation for 52 years and run by the owners Colm Cuffe and Declan O’Rourke, specializes in competitive and innovative contract GMP cleanroom molding and assembly solutions. The company operates in a range of ISO Class 8 clean room environments at its facility Ireland and from an IATF 16949 compliant facility in the Czech Republic. Tool & Plastic has continuously invested in cutting edge technology to enable high quality manufacturing services and a longstanding reputation for excellence.
The combination of Tool & Plastic and Technimark improves Technimark’s manufacturing expertise in healthcare as well as its global presence. The combined company will have 13 facilities and over 4,400 employees worldwide.
“We are excited to be working with Technimark,” said Cuffe. “Tool & Plastic and Technimark share a common culture for technical excellence, safety, innovation and customer partnership. We look forward to creating lasting value together.”
Mr. O’Rourke added, “The acquisition by Technimark is a strategic addition to the business in Ireland and the Czech Republicand we look forward to developing and growing the business on a solid foundation. “
“Tool & Plastic’s leadership in its core healthcare markets combined with Technimark’s manufacturing expertise, healthcare customer relationships and scalability create a leader with significant opportunities for future growth,” he said Brad Wellington, CEO of Technimark. “Tool & Plastic will help us add even more value to our customers, and we look forward to welcoming them to the Technimark family.”
Thomas Chadwick, Vice President at Pritzker Private Capital, added, “This acquisition represents an important growth opportunity for Technimark and adds two state-of-the-art facilities in key regions that will help accelerate the growth of the combined business. We look forward to a successful partnership ahead. “
“By improving our ability to serve customers across West and West America Eastern EuropeThese acquisitions support our long-term growth strategy in the global healthcare market, “said Wellington.” Technimark is well positioned to help our customers apply advanced and innovative technology-based solutions from design and engineering to production, including assembly and packaging of the final product. “
Technimark is a leading global supplier of customized hard plastic packaging and components. Technimark is a family company that has been run for more than 30 years and offers its customers tailor-made end-to-end solutions based on technology and innovation. With facilities in the United Kingdom, United States, Mexico, China and GermanyTechnimark supplies high quality products to customers in the healthcare, consumer goods and specialty industries worldwide. Please visit technimark.com for more information.
About Tool & Plastic Industries, Ltd.
Founded in 1968 and headquartered in Longford, Ireland, Tool & Plastic Industries is a leading supplier of precision injection molded plastic components to the medical device, pharmaceutical and consumer goods sectors worldwide. Operation outside of facilities in Ireland and the Czech RepublicThe company serves an international blue chip customer base, including leading OEMs in its service sectors. Tool & Plastic is ISO 13485 certified and operates in a range of ISO Class 8 clean room environments. For more information, visit toolandplastic.com.
About Pritzker Private Capital
Pritzker Private Capital works with medium-sized companies based in North America with leadership positions in product, service and healthcare manufacturing. The company’s differentiated, long-term capital base enables efficient decision-making, broad flexibility with regard to the transaction structure and the investment horizon, as well as an orientation towards all stakeholders. Pritzker Private Capital builds companies for the long term and is an ideal partner for entrepreneurs and family businesses. More information is available at ppcpartners.com.