Technimark, a leading global provider of custom rigid plastic packaging solutions to healthcare, consumer packaging and specialty industrial customers, today announced the completion of a new growth investment from Oak Hill Capital Partners, an investment firm with experience growing manufacturing companies.
Oak Hill’s investment will provide significant capital to support Technimark’s continued market expansion and robust growth. Pritzker Private Capital (PPC), which partnered with Technimark management in 2014, will retain a significant minority investment and will continue to be actively involved in growing the business. Transaction details were not disclosed.
Over the course of its successful, multi-year partnership with PPC, Technimark has grown to operate 12 manufacturing facilities, 17 cleanrooms and a state-of-the-art innovation centre with more than 4,700 employees globally. The company has continued to grow through acquisitions, including its recent combination with Tool & Plastic Industries, to broaden its healthcare manufacturing offering and expand its European presence. With a broad portfolio of value-added, injection moulding and advanced manufacturing solutions, Technimark is a supplier of choice for global blue-chip healthcare, consumer and specialty industrial customers. Technimark’s management team, led by President and CEO Brad Wellington, will continue to lead the business.
“Both Technimark and PPC are excited for Oak Hill to join our successful, multi-year partnership,” says Wellington. “The Oak Hill team brings significant resources and manufacturing sector expertise to the table. This investment, along with PPC’s continuing partnership, will enable Technimark to expand further into key growth markets, both organically and through acquisition, as we continue to expand our global footprint. We look forward to collaborating as we focus on serving our customers and team members.”
David King, Operating Partner at Pritzker Private Capital, says: “Technimark has built tremendous support and loyalty from its customers, and proven its leadership in the healthcare, consumer goods and specialty industrial markets. We are pleased to continue our partnership and we look forward to working with Oak Hill to support Technimark’s growth plan.”
Thomas Chadwick, Principal at Pritzker Private Capital, adds: “Our multi-year partnership with Technimark is guided by our shared values, culture and philosophy of building businesses for long-term success. With this new growth investment, Technimark is well-positioned to build on the impressive results the team has delivered over the past seven years, which include multiple acquisitions and a significant expansion of its customer base across several key end markets. We are thrilled to continue working directly with Brad and the Technimark team, while also beginning a new chapter of partnership with Oak Hill.”
Goldman Sachs & Co and Wells Fargo Securities LLC advised Technimark on the transaction.