Pacur provides speciality plastic packaging materials for the medical device industry
Gryphon Investors, a US-based middle-market private equity firm, has agreed to make a strategic investment in speciality plastic packaging materials provider Pacur.
Terms of the deal have not been disclosed.
Based in Oshkosh of Wisconsin, Pacur provides speciality plastic packaging materials for the customers in the medical device industry.
Established in 1979, the company supplies extruded PETG sheet uses primarily to offer rigid and high-performance packaging for medical devices.
Pacur is also involved in the production of the sheet for certain speciality graphics, pharmaceutical packaging, and food packaging applications.
Pacur CEO Barry Johnson continue to manage the business
Under the leadership of CEO Barry Johnson, Pacur’s management team will continue to oversee the business. The Johnson family will continue as significant owners of the company.
Gryphon deal partner and industrial growth group head Bob Grady said: “Gryphon is very pleased to partner with the Johnson family and Pacur’s management team to extend the Company’s leadership in the materials and medical packaging industry.
“Gryphon was attracted to Pacur’s first-class brand, reputation for quality and reliability, and track record of strong financial performance and excellent customer service, and we continue to be attracted to the strong growth and recession resistance which characterizes the medical device industry.”
Wells Fargo Securities acted as the exclusive financial advisor to Pacur, while the Johnson family and Koley Jessen acted as the legal counsel. Gryphon has been advised by legal counsel Kirkland & Ellis, and financial advisor William Blair.
Gryphon’s operations resources group head and Gryphon’s industrial growth group operating partner Wes Lucas said: “Pacur is a trusted partner of several of the world’s most-respected medical device brands and leading thermoformer customers. The Company has a proven track record of offering best-in-class packaging solutions and of continuous innovation.”
Tekni-Plex Medical offers advanced medical-grade, polymer-based solutions, including compounds, tubing and other products, for medical devices and other applications.