Comar Announces Acquisition of iMARK Molding
VOORHEES, N.J., Jan. 27, 2020 /PRNewswire/ -- Comar, a premier plastic packaging, dispensing, and medical device provider serving the Medical, Pharmaceutical, Consumer Healthcare, Personal and Home Care, Food and Beverage, and other niche market segments is thrilled to announce the acquisition of iMARK Molding ("iMARK"), a custom contract manufacturer focused on serving the medical device industry. The combined company will offer additional best-in-class engineering and custom plastic molding and assembly services to Comar's medical device, diagnostic, and pharmaceutical customers. The acquisition will support Comar's growth objectives in the medical and pharmaceutical segments.
Based in Woodville, Wisconsin, less than a one-hour drive from Minneapolis, Minnesota, iMARK specializes in complex scientific injection molding, automated and manual assembly, and cleanroom operations. iMARK operates out of a state-of-the-art ISO13485-certified 130,000 square foot facility with 30+ injection molding presses and 15,000 square feet of certified ISO Class 7 cleanroom. iMARK is a market leading provider of custom injection molded diagnostic and surgical medical devices with the following awards:
- Wisconsin Manufacturer of the Year, Special Award for Enterprise Precision
- Wisconsin Fast Forward grant for employer-led worker training projects
- St. Croix EDC Business of the Year
- IQMS Manufacturing Success Award for using software to enhance all business services
- RJG Training Excellence Award for their commitment to the RJG Master Molder™ Certification program
The acquisition enhances Comar's ability to serve medical device customers by bringing best-in-industry employees, additional cleanroom scientific injection molding capacity, engineering talent, and quality precision measurement capabilities. Located centrally in the Midwest United States, iMARK will be able to serve Comar's customers across geographies flexibly. There will be no plant closures or employee layoffs for Comar or iMARK as part of this acquisition. Comar and iMARK fully expect to continue to deliver to their customers with zero interruptions or quality issues.
Founded in 1949, Comar is a market leading designer and manufacturer of rigid plastic solutions. Comar has a longstanding reputation for developing creative, industry-compliant packaging and dispensing solutions for customers who count on them for quality-driven engineering and manufacturing. Comar is now better positioned with this acquisition and other recent investments to address the unmet needs of OEMs in Class 1 and 2 medical and healthcare consumables, which is experiencing favorable tailwinds from the adoption of disposables, an aging population, and increased outsourcing.
Mark Sturtevant, President of iMARK, said, "We have been proud to serve our customers the last 20 years and look forward to continuing to serve them. We believe Comar's culture is well-aligned with ours, which is focused on 'Always the Hard Right – Never the Easy Wrong' and providing a quality product to the same types of customers as ours. Comar brings a unique set of capabilities that will better serve our customers – full service, in-house design, development, and prototyping with IDworks, scale in procurement, deeper engineering bench with broad set of specializations, and multiple plants with capacity across the US." Mark Sturtevant will continue to manage day-to-day operations of the iMARK facility and will be fully involved in efforts to serve current and future iMARK and Comar customers.
Mike Ruggieri, CEO of Comar, commented, "We are so excited to be welcoming Mark and Linda Sturtevant and their outstanding team to the Comar organization. Over the last 20 years, Mark and Linda have built a high performance, customer-centric team with the best scientific injection molding capabilities we have seen across the industry. They truly know how to serve their customers with parts right the first time… and repeat that reliably. We look forward to partnering with them to better serve our current and prospective customers with new capacity and capabilities. And we look forward to continuing to acquire strategic and complementary businesses like iMARK."
Comar, headquartered in Voorhees, New Jersey, has nine strategic manufacturing and distribution locations across the United States and employs a host of rigid plastic packaging technologies including injection molding, injection blow molding, injection stretch blow molding, and extrusion blow molding which are complemented by a full suite of value-added service offerings. Comar's principal owners are investment funds managed by Morgan Stanley Capital Partners.
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading middle-market private equity firm that has invested capital in a broad spectrum of industries for over two decades, focused primarily on investing in North American-based companies. They seek to create value by directly investing and partnering with middle-market, founder/family-managed companies to accelerate their growth initiatives.
SOURCE Comar
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