Rigid packaging solutions provider IntraPac International has merged with Technical Precision Plastics (TPP), a plastic injection molded products and services provider.
TPP is a high-precision injection molder for medical and premium consumer applications focused on customer service. It is specialized in medical clean room and multi-shot molding.
TPP founder president and CEO Jim Piermarini said: “Building TPP has been a rewarding experience because of the strong relationships we have been able to develop over the years with our customers and employees. I’m proud to say that we have found an excellent partner in IntraPac that will enable us to continue to grow TPP’s legacy.
“This merger will allow TPP to offer our current domestic and international customers an expanded array of products and services. By combining operations, we can offer our design, manufacturing and supply chain capabilities with a higher level of service in key medical and consumer markets.”
TPP, which was founded in 1984, services its customers from two manufacturing locations in Mebane, North Carolina and Haina, Dominican Republic.
IntraPac CEO Ray Grupinski said: “TPP is a world class injection molder. We are thrilled to have Jim and his teams joins the IntraPac family and work with us to further build the business in the years to come. TPP is known for its talented employees, high level of customer service and strong technical capabilities.
“TPP will immediately become a key center of excellence within IntraPac for high precision, multi-shot molded components. In particular, TPP will bolster our existing medical business and technical capabilities for the consumer market while further accelerating our growth potential, both in the Research Triangle Park region of North America, the Dominican Republic, and at our existing Costa Rican facilities.”
In September 2017, IntraPac has acquired Quality Plastics. The merger of TPP makes is the second transaction under ONCAP’s ownership.
Strategic and financial advisor SunTrust Robinson Humphrey has served TPP as advisor for the transaction.