Tekni-Plex acquires Oracle Packaging's healthcare, performance lidstock, induction seal and specialty lamination businesses

WAYNE, Pa., June 19, 2018 /PRNewswire/ -- Tekni-Plex, Inc. has acquired the healthcare packaging, performance lidstock, induction seal and specialty lamination businesses of Oracle Packaging, Winston-Salem, North Carolina. Oracle Packaging is a portfolio company of Centre Lane Partners, LLC. 

Oracle specializes in manufacturing flexible packaging laminates for healthcare, food and beverage and specialty applications. The healthcare packaging portfolio includes pouchstock and sterilizable barrier laminates. Additionally, the company manufactures performance lidstock products, induction heat seals and specialty lamination structures that target hard-to-hold products and those requiring puncture resistance.

Going forward, these product lines will become part of Tri-Seal, a Tekni-Plex business. Tri-Seal is known for its broad range of liners manufactured in a variety of materials ranging from a one-piece induction seal to nine-layer extrusions and laminations. The business unit operates manufacturing facilities in North America, Europe and Asia.

"The addition of the Oracle product lines to our Tri-Seal business unit will enable us to combine our existing liner expertise with complementary specialty packaging offerings. Growing our flexible packaging capability with new lidding and pouchstock products will enable us to provide additional value to our existing customers and penetrate new markets," said Paul J. Young, president and chief executive officer, Tekni-Plex.

Oracle's 450,000-square-foot manufacturing facility in Winston-Salem is included in the acquisition. The facility currently employs approximately 170 people.

The Oracle Packaging purchase is the ninth acquisition Tekni-Plex has made in the past four years, supporting its strategy to grow its business via both organic and acquisition paths. Tekni-Plex has a solid track record of successful business integrations, having acquired companies with innovative plastic and rubber products to further drive growth. Jefferies LLC acted as the financial advisor to Oracle Packaging in the transaction.

About Centre Lane Partners, LLC
Centre Lane is a private investment firm focused on making equity and debt, control and non-control, investments in North American middle market companies. Centre Lane targets companies with revenues between $20 and $500 million that have leading market positions and sustainable competitive advantages in their respective niches. Industries targeted for investment are broad and diverse with no industry excluded from our consideration. For more information, please visit www.centrelanepartners.com.

About Tekni-Plex, Inc.
Tekni-Plex is a globally-integrated company focused on developing and manufacturing innovative packaging materials, medical compounds and precision-crafted medical tubing solutions for some of the most well-known names in the medical, pharmaceutical, personal care, household and industrial, and food and beverage industries. Tekni-Plex is headquartered in Wayne, Pennsylvania, and operates manufacturing sites across eight countries worldwide to meet the needs of its global customers.  For more information visit www.tekni-plex.com.

SOURCE Tekni-Plex, Inc.

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