ASHEBORO, N.C., July 15, 2020 /PRNewswire/ -- Technimark, a global manufacturer of custom rigid plastic packaging and components, announced today it has acquired Tool & Plastic Industries Ltd., a leading supplier of injection molded products for the medical device, pharmaceutical and consumer product sectors. The company is headquartered in Longford, Ireland, with an additional facility in Ostrava, Czech Republic. Financial terms of the transaction were not disclosed. Technimark is backed by Pritzker Private Capital.
Tool & Plastic, in operation for 52 years and led by owners Colm Cuffe and Declan O'Rourke, specializes in offering competitive and innovative contract GMP Cleanroom molding and assembly solutions. The company operates from a number of ISO Class 8 Cleanroom environments in its facility in Ireland and from an IATF 16949 compliant facility in the Czech Republic. Tool & Plastic has continually invested in state-of-the-art technology, allowing for high-quality manufacturing services and a longstanding reputation for excellence.
The combination of Tool & Plastic and Technimark enhances Technimark's healthcare manufacturing expertise, as well as its global footprint. The combined company will have 13 facilities and over 4,400 employees worldwide.
"We are excited to partner with Technimark," commented Mr. Cuffe. "Tool & Plastic and Technimark share a common culture for technical excellence, safety, innovation and customer partnership, and we look forward to building lasting value together."
Mr. O'Rourke added, "The acquisition by Technimark represents a strategic fit for the business in Ireland and the Czech Republic, and we look forward to developing and growing the business on the solid foundation already in place."
"Tool & Plastic's leadership in its core healthcare markets, combined with Technimark's manufacturing expertise, healthcare customer relationships, and scale create a market leader with significant opportunities for future growth," said Brad Wellington, CEO of Technimark. "Tool & Plastic will help us deliver even more value to our customers, and we are excited to welcome 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 geographies that will help accelerate growth of the combined business. We look forward to a successful partnership ahead."
"By enhancing our ability to serve customers across Western and Eastern Europe, these acquisitions bolster our long-term growth strategy in the global healthcare market," Mr. Wellington said. "Technimark is well-positioned to help our clients apply advanced and innovative technology-based solutions from design and engineering through production, including assembly and packaging of the final product."
Technimark is a leading global provider of custom rigid plastic packaging and components. Family-founded and led for more than 30 years, Technimark has provided customers with customized, end-to-end solutions based on technology and innovation. With facilities in the United Kingdom, United States, Mexico, China and Germany, Technimark delivers high quality products on a global basis for healthcare, consumer packaged goods and specialty industrial customers. For more information, visit technimark.com.
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 global medical device, pharmaceutical and consumer product sectors. Operating out of facilities in Ireland and the Czech Republic, the Company serves an international blue-chip customer base, including leading OEM's in its sectors of service. Tool & Plastic is ISO 13485-certified and operates from a number of ISO Class 8 Cleanroom environments. For more information, visit toolandplastic.com.
About Pritzker Private Capital
Pritzker Private Capital partners with middle-market companies based in North America with leading positions in the manufactured products, services and healthcare sectors. The firm's differentiated, long-duration capital base allows for efficient decision-making, broad flexibility with transaction structure and investment horizon, and alignment with all stakeholders. Pritzker Private Capital builds businesses for the long term and is an ideal partner for entrepreneur and family owned companies. For more information, visit ppcpartners.com.