Private equity firm Genstar Capital has acquired US-based Tekni-Plex from American Securities for an undisclosed sum.
Based in Wayne of Pennsylvania, Tekni-Plex produces products, components and materials for healthcare, specialty packaging and food packaging applications.
The company is engaged in the development and manufacturing of medical tubing and compounds, pharma barrier films, dispensing components, closure liners and specialty packaging solutions for the medical and pharmaceutical, food and beverage, household and industrial, and personal care end markets.
Tekni-Plex has six business units, including Colorite, Natvar, Tekni-Films/Gallazzi, Tri-Seal, Action Technology and Dolco Packaging.
The firm produces a range of packaging, tubing and medical compounds for medical applications, as well as various packaging and dispensing compounds for pharmaceutical applications.
Tekni-Plex also produces different packaging, dispensing and dip tubing products for personal care applications, while foam packaging containers and closure liner products for food and beverage applications.
With around 2,500 employees, the company carries out operations in Belgium, China, Costa Rica, Germany, India, Italy, Northern Ireland and the US.
In 2013, American Securities had acquired Tekni-Plex for an undisclosed value.
Genstar managing director Rob Rutledge said: “Tekni-Plex, led by CEO Paul Young, is a premier supplier to customers that possess the highest standards in quality, reliability, innovation and customer service.”
Tekni-Plex CEO Paul Young said: “We have invested heavily in our facilities, equipment and organization over the past several years so that today Tekni-Plex’s well-respected brands hold leadership positions in all of its key market segments.”
Image: Genstar Capital has acquired Tekni-Plex from American Securities. Photo: courtesy of adamr / FreeDigitalPhotos.net.