The combination is expected to create a strong platform to serve brand-name and generic pharmaceutical companies
TCG Legacy, a portfolio company of CORE Industrial Partners, has acquired US-based packaging and labelling solutions provider MedLit Graphics for an undisclosed sum.
Based in Windsor, New Jersey, MedLit Graphics offers packaging and labelling solutions for a wide range of customers in the pharmaceutical industry.
The company’s comprehensive product portfolio consists of inserts and outserts, labels, medication guides, and folded cartons.
MedLit Graphics operates an advanced line of packaging equipment to provide quality products to customers on short lead times.
To meet stringent quality control standards, the company is said to leverage advanced electronic vision inspection systems and optical character recognition software.
MedLit co-presidents Lakshman Samala and Rao Ponugoti said: “Since MedLit’s inception, we’ve been committed to providing outstanding speed, quality, and service for our customers with the goal of building the business into a leader in pharmaceutical packaging.”
MedLit and TCG Legacy will combinedly hold more than 80,000ft² of production area across two manufacturing facilities in New Jersey and North Carolina. It will help create an advanced platform to serve both brand-name and generic pharmaceutical companies.
In addition, the transaction is expected to enhance the overall scope and breadth of capabilities to serve both production and marketing applications for pharmaceutical customers
CORE senior partner Frank Papa said: “This acquisition significantly expands TCG Legacy’s packaging capabilities for pharmaceutical production applications, and we’ll continue to actively pursue acquisitions, similar to MedLit, that simultaneously broaden our customer base, enhance our service offering and deepen our presence in the attractive pharmaceutical and healthcare end markets.”
Winston & Strawn offered legal representation to CORE and TCG Legacy in the deal, while Sperry, Mitchell & Company acted as exclusive financial advisor to MedLit.
TCG Legacy offers a range of cross-media marketing, graphics, printing and packaging services for the customers in the pharmaceutical and higher education end markets.
In February this year, CORE Industrial Partners portfolio company Fathom acquired US-based Summit Tooling and Summit Plastics.