Global plastic injection molding leader adds facilities in Ireland and the Czech Republic
ASHEBORO, N.C., (July 14, 2020) – 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.”
About Technimark
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.
###