Tool & Plastic operates one facility in Ireland and one facility in Ostrava, Czech Republic
Technimark seeks to expand its business with new acquisition. (Credit: Gerd Altmann from Pixabay)
Technimark, a manufacturer of plastic packaging and components, has purchased Tool & Plastic Industries, a supplier of injection moulded products for the medical device, pharmaceutical and consumer product sectors, for an undisclosed amount.
Ireland-based Tool & Plastic has an additional facility in Ostrava, Czech Republic.
Technimark, which is backed by Pritzker Private Capital, expects the acquisition to enhance its healthcare manufacturing expertise, as well as its global footprint.
Pritzker Private Capital vice-president Thomas Chadwick said that the acquisition represents an important growth opportunity for Technimark. It also adds two facilities in key geographies that will help accelerate growth of the combined business.
Technimark CEO Brad Wellington said: “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.
“Tool & Plastic will help us deliver even more value to our customers, and we are excited to welcome them to the Technimark family.”
The combined entity will operate 13 facilities
The combined company will have 13 facilities and employs more than 4,400 people worldwide.
Tool & Plastic owners Declan O’Rourke O’Rourke said: “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.”
Wellington added: “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.
“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.”